Part 1: The Bank of England Section 17: Saving and transitional provision relating to Part 1
This section introduces Schedule 3.
	Schedule 3 makes saving and transitional provision relating to Part 1 of this Act.
	Paragraphs 2 to 12 make provision in relation to prudential regulation. Paragraph 2 preserves the effect of orders made under section 2A(6)(d) of FSMA specifying certain EU provisions as conferring functions on the PRA.
	Paragraph 3 provides for the prudential regulation strategy last determined by the PRA under section 2E of FSMA to continue to have effect.
	Paragraph 4 provides for the prudential regulation budget last adopted by the PRA under paragraph 18 of Schedule 1ZB to FSMA to continue to have effect.
	Paragraph 5 makes provision for the time when the Bank, acting in its capacity as the PRA, has to make its first annual report under paragraph 19 of Schedule 1ZB to FSMA.
	Paragraph 6 allows the subsidiary company originally incorporated as Prudential Regulation Authority Ltd ("PRA Ltd") to disclose confidential information to the Bank in order to prepare for the transfer of its functions to the Bank.
	Paragraph 7 ensures that the company known as the Prudential Regulation Authority will not incur liabilities to corporation tax because of the transfer of its intangible assets to the Bank.
	Paragraph 8 limits the application of the new definition of the PRA so that it does not apply to any enactment to the extent that the enactment only applies to a time before the new definition came into force.
	Paragraph 9 ensures that references to the PRA in documents which relate to functions or property of the PRA which are transferred to the Bank will be read as referring to the Bank acting in its capacity as the PRA after the transfer of the PRA's functions to the Bank takes effect.
	Paragraphs 10 to 12 make general provision to ensure that the transfer of functions and the transfer of property, rights and liabilities from the PRA Ltd to the Bank, acting in its capacity as the PRA, does not affect anything the PRA Ltd did, or which was done in relation to it, before the transfers took effect.