[(1) The PRA must—
(a) determine its strategy in relation to its objectives, and
(b) from time to time review, and if necessary revise, the strategy.
(2) Before determining or revising its strategy, the PRA must consult the court of directors of the Bank of England about a draft of the strategy or of the revisions.
(3) The PRA must determine its strategy within 12 months of the coming into force of this section.
(4) The PRA must carry out and complete a review of its strategy before the end of each relevant period.
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