[(1) The PRA must carry out reviews of its ring-fencing rules and of any rules made by it under section 192JA (rules applying to parent undertakings of ring-fenced bodies).
(2) The first review must be completed before the end of the period of 5 years beginning with the day on which the first ring-fencing rules come into force.
(3) Subsequent reviews must be completed before the end of the period of 5 years beginning with the day on which the previous review was completed.
(4) The PRA must give the Treasury a report of each review.
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