[3E Memorandum of understanding]
[3E Memorandum of understanding]

[(1)     The regulators must prepare and maintain a memorandum which describes in general terms—

(a)     the role of each regulator in relation to the exercise of functions conferred by or under this Act which relate to matters of common regulatory interest, and

(b)     how the regulators intend to comply with section 3D in relation to the exercise of such functions.

(2)     The memorandum may in particular contain provisions about how the regulators intend to comply with section 3D in relation to—

(a)     applications for Part 4A permission;

(b)     the variation of permission;

(c)     the imposition of requirements;

(d)     the obtaining and disclosure of information;

(e)     cases where a PRA-authorised person is a member of a group whose other members include one or more other authorised persons (whether or not PRA-authorised persons);