[169A Support of overseas regulator with respect to financial stability]
[169A Support of overseas regulator with respect to financial stability]

[(1)     At the request of an overseas regulator, the [PRA] may exercise a corresponding section 165A power.

(2)     An “overseas regulator” means an authority in a country or territory outside the United Kingdom which exercises functions with respect to the stability of the financial system operating in that country or territory.

(3)     A “corresponding section 165A power” means a power corresponding to the one conferred by section 165A, but reading references in that section to the stability of the UK financial system as references to the stability of the financial system operating in the country or territory of the overseas regulator.

(4)     The following provisions apply in relation to the exercise of the corresponding section 165A power—

(a)     section 165B(1) to (5); and