SCHEDULE 7 Application of Provisions of FSMA 2000 to Bank of England Etc
Financial Services Act 2012 (2012 c 21) | Legislation

SCHEDULE 7 Application of Provisions of FSMA 2000 to Bank of England Etc

Section 29

This is the Schedule 17A to be inserted in FSMA 2000 after Schedule 17—

“SCHEDULE 17A
Further Provision in Relation to Exercise of Part 18 Functions by Bank of England
Section 285A
Part 1
Co-operation Between Appropriate Regulators
Memorandum of understanding between appropriate regulators and PRA
1

(1)     The appropriate regulators must prepare and maintain a memorandum describing how they intend to work together in exercising their functions in relation to persons who are recognised bodies.

(2)     The memorandum must in particular make provision about—

(a)     the need for each party when exercising a function in relation to any person (“Aâ€) who is a recognised body, or any member of A's group, to have regard to the exercise (or possible exercise) of any function by the other party in relation to A or any member of A's group;

(b)     the role of each party in cases where they are both exercising functions in relation to the same persons;

(c)     the obtaining and disclosure of information;

(d)     the co-ordination by the parties of the exercise of their powers to appoint competent persons under Part

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