Related links

PS7/13 - Strengthening capital standards: implementing CRD IV, feedback and final rules https://www.bankofengland.co.uk/prudential-regulation/publication/2013/strengthening-capital-standards-implementing-crd-4
SS8/16 - Ring-fenced bodies (RFB) http://www.bankofengland.co.uk/pra/Pages/publications/ss/2016/ss816.aspx
SS15/13 – Groups https://www.bankofengland.co.uk/prudential-regulation/publication/2013/groups-ss
SS16/13 – Large exposures https://www.bankofengland.co.uk/prudential-regulation/publication/2013/large-exposures-ss
Statement of Policy – The PRA’s methodologies for setting Pillar 2 capital https://www.bankofengland.co.uk/prudential-regulation/publication/2015/the-pras-methodologies-for-setting-pillar-2-capital

Chapters

  • 1 Application
  • 2 Interpretative Provisions

1

Application

1.1

This Part applies to a firm.

2

Interpretative Provisions

Purposive interpretation

2.1

Every provision in the PRA Rulebook must be interpreted in the light of its purpose.

Use of defined expressions

2.2

In the PRA Rulebook, save as otherwise indicated in a Part of the PRA Rulebook, an expression in italics defined:

  1. (1) in the PRA Rulebook Glossary has the meaning given in that glossary;
  2. (2) for the purposes of FSMA has the meaning given in that Act;
  3. (3) in the Interpretation Act 1978 has the meaning given in that Act.

Application of the Interpretation Act 1978

2.3

Save as otherwise indicated, the Interpretation Act 1978 applies to the PRA Rulebook.

Cross-references in the PRA Rulebook

2.4

A reference in the PRA Rulebook to another provision in the PRA Rulebook is a reference to that provision as amended from time to time.

Activities covered by rules

2.5

In the PRA Rulebook, a rule made by the PRA under section 137G of FSMA applies to a firm with respect to the carrying on of any activities, except to the extent that a contrary intention appears.

Continuity of authorised partnerships and unincorporated associations

2.6

If a firm is dissolved, but its authorisation continues to have effect under section 32 (Partnerships and unincorporated associations) of FSMA in relation to any partnership or unincorporated association that succeeds to the business of the dissolved firm, the successor partnership or unincorporated association is to be regarded as the same firm for the purposes of the PRA Rulebook unless the context otherwise requires.