Legislation – The Financial Services and Markets Act 2023 (Commencement No. 10 and Saving Provisions) Regulations 2025

Saving provision for permissions granted under the Capital Requirements Regulation6.

Despite the revocations brought into force by regulation 4, any permission granted by the PRA under the following provisions of the Capital Requirements Regulation at any time before 1st January 2026, has effect, on and after 1st January 2026, as if granted under section 138BA (disapplication or modification of rules in individual cases) of FSMA 200024

(a)

Article 26(3);

(b)

Article 31(1);

(c)

Article 41(1);

(d)

Article 73(1);

(e)

Article 76(2);

(f)

Article 77(1);

(g)

Article 78(1).

24

Section 138BA was inserted by section 34 of the Financial Services and Markets Act 2023. “PRA” and “FSMA 2000” are defined by section 80(1) of that Act.