Application provision

1.1 The changes to this rule are effective from 23:00 on 31/12/2020.

Unless otherwise stated, this Part applies to every firm that is:

  1. (1) a CRR firm;
  2. (2) a credit union; or
  3. (3) a third country CRR firm in relation to:
    1. (a) the activities of its establishment in the UK; or
    2. (b) if it does not have an establishment in the UK, its activities in the UK.



Except as otherwise provided in this Chapter, a person may perform more than one PRA senior management function on behalf of a firm.



A firm must ensure that a person who performs the Chair of the Governing Body function on its behalf does not simultaneously perform the Chief Executive function within the same firm.

Additional Notes

[Note: Art. 88(1)(e) of CRD]