Chapter 3: Accountability of regulators FCA and PRA objectives and regulatory principles Section 28: sections 25 and 27: consequential amendments
This section sets out minor and consequential amendments to FSMA 2000 as a result of the new competitiveness and growth objective introduced by section 25 and the new regulatory principle that refers to the net zero emissions target.
	Subsection (2) amends section 1JA of FSMA 2000 to require the FCA to have regard to recommendations by HM Treasury when considering how to discharge its duty to advance the international competitiveness and growth objective.
	Subsection (3) amends section 1K of FSMA 2000 to clarify that the reference to the FCA’s objectives includes the international competitiveness and growth objective.
	Subsection (4) amends section 2I of FSMA 2000 to clarify that the reference to the PRA’s objectives includes the international competitiveness and growth objective.
	Subsection (5) amends section 3B of FSMA 2000 to clarify that the definition of ‘objectives’ includes the international competitiveness and growth objective.
	Subsection (6) amends section 3D of FSMA 2000 to ensure that the international competitiveness and growth objective is included in the requirement for the FCA and the PRA to ensure co-ordinated exercise of their functions.
	Subsection (7) amends 138I of FSMA 2000 to require the FCA to explain how its proposed rules advance the international competitiveness and growth objective when it consults on draft rules.
	Subsection (8) amends the duty for the FOS to provide information to the FCA so that it includes information that relates to the international competitiveness and growth objective.
	Subsection (9) amends section 143G of FSMA 2000 to make consequential amendments to provisions which are redundant following the introduction of the amended sustainable growth principle.
	Subsection (10) amends paragraph 11 of Schedule 1ZA to FSMA 2000 and requires the FCA to report annually on how it has advanced its international competitiveness and growth objective through its annual report.
	Subsection (11) amends paragraph 20 of Schedule 1ZB to FSMA 2000 and requires the PRA to report annually on how it has advanced its international competitiveness and growth objective through its annual report.