26(1)Paragraph 5 (notice to Authority) is amended as follows.
(2)In sub-paragraph (2), for “the Authority” substitute “the appropriate UK regulator”.
(3)After sub-paragraph (2) insert—
“(2A)The appropriate UK regulator” means—
(a)where any of the activities to which the notice relates is a PRA-regulated activity, the PRA;
(b)in any other case, the FCA.
(2B)Where the PRA receives a notice under sub-paragraph (2), it must give a copy to the FCA without delay.
(2C)Where the FCA receives a notice under sub-paragraph (2) from—
(a)a PRA-authorised person, or
(b)a person whose immediate group includes a PRA-authorised person,
it must give a copy to the PRA without delay.”
(4)For sub-paragraph (4) substitute—
“(4)Subsections (1), (4) and (8) of section 55U apply to a notice under sub-paragraph (2) as they apply to an application for a Part 4A permission.”
(5)In the italic heading immediately before paragraph 5, for “Authority” substitute “UK regulator”.