Bank of England Act 1998
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Change 1
9Q Recommendations to FCA and PRA
(1) The Financial Policy Committee may make recommendations to the FCA and the PRA about the exercise of their respective functions. (2) The recommendations may relate to all regulated persons or to regulated persons of a specified description, but may not relate to the exercise of the functions of the FCA or the PRA in relation to a specified regulated person. (3) If the recommendations are expressed to be recommendations to which this subsection applies, the body to which they are made must as soon as reasonably practicable— (a) act in accordance with the recommendations, or (b) if to any extent it does not, notify the Committee of the extent to which it has not acted in accordance with the recommendations and of the reasons for its decision. (4) The recommendations, and any notification under subsection (3)(b), must be made or confirmed in writing. (4A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) “ Regulated person ” has the same meaning as in section 9H.
9Q Recommendations to FCA and PRA
(1) The Financial Policy Committee may make recommendations to the FCA and the PRA about the exercise of their respective functions. (2) The recommendations may relate to all regulated persons or to regulated persons of a specified description, but may not relate to the exercise of the functions of the FCA or the PRA in relation to a specified regulated person. (3) If the recommendations are expressed to be recommendations to which this subsection applies, the body to which they are made must as soon as reasonably practicable— (a) act in accordance with the recommendations, or (b) if to any extent it does not, notify the Committee of the extent to which it has not acted in accordance with the recommendations and of the reasons for its decision. (4) The recommendations, and any notification under subsection (3)(b), must be made or confirmed in writing. (4A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) “ Regulated person ” has the same meaning as in section 9H.
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