Part 1: Prudential regulation of credit institutions and investment firms Section 5: Prudential regulation of credit institutions etc. by PRA rules
Subsection (1)(a) inserts a new Part 9D into FSMA, which is set out in Part 1 of Schedule 3. More specifically, Part 9D sets out the enhanced accountability framework that the PRA must have regard to when implementing the outstanding elements of the Basel standards in its rules, as well as additional obligations on the PRA. In Schedule 3, HM Treasury also has a specific power to make amendments to primary and secondary legislation that is consequential on the rules made by the PRA.
	Subsection (1)(b) deals with amendments to the PRA’s power to make rules over approved holding companies in Part 12B FSMA. Subsection (1)(c) deals with minor and consequential amendments to legislation made in relation to this rule-making power, as set out in Part 3 of Schedule 3.
	Subsection (1)(d) deals with the transitional treatment of PRA rules made before these new requirements come into effect (as set out in Part 4 of Schedule 3).
	Subsections (2), (3) and (4) support the integration of PRA rules with the CRR and support additional transparency in relation to how revoked provisions relate to PRA rules.
	Subsections (5) to (7) are self-explanatory.