[insert details of the voting group as determined by the employer eg the whole workforce, night shift, day shift, management, non-management or department] Absent voter details: (To be completed by the absent voter) Proxy details: (To be completed by the proxy) I will be absent and unable to vote personally in the election for [employee OR worker] representatives. I am in the same voting group as the absent voter named in this form. The reason for absence (if required by the

Forthcoming change: The Tobacco and Vapes Act 2026, which received Royal Assent on 29 April 2026, makes will, from 1 January 2027, make it illegal to sell tobacco to, or purchase tobacco on behalf of, anyone born on or after 1 January 2009 thereby creating the UK's first smoke-free generation. The legislation bans the advertising and sponsorship of vapes and nicotine products while also granting powers to restrict their packaging, branding and displays that might appeal to children. It further bolsters smoke-free protections in certain public areas, with a strong focus on shielding children and medically vulnerable individuals from second-hand smoke. Certain provisions of the Act came into force on 29 October 2026, with others being commenced on 1 January 2027 or on a staged basis by regulations. This content reflects the changes commencing on 29 October 2026 and will be updated when further relevant provisions come into force. For more information, see News Analysis: Clearing the Air: What the Tobacco and Vapes Act 2026 means for enforcement authorities

The PRA’s Fundamental Rules The Fundamental Rules form part of the PRA Rulebook and are high-level rules, which collectively set out the Prudential Regulation Authority (PRA)’s expectations of firms and act as an expression of the PRA’s general objective of promoting the safety and soundness of firms and the insurance objective of securing an appropriate degree of protection to those who are or may become policy holders. The Fundamental Rules are: • Fundamental Rule 1—a firm must conduct its business with integrity. • Fundamental Rule 2—a firm must conduct its business with due skill, care and diligence. • Fundamental Rule 3—a firm must act in a prudent manner. • Fundamental Rule 4—a firm must at all times maintain adequate financial resources. • Fundamental Rule 5—a firm must have effective risk strategies and risk management systems. • Fundamental Rule 6—a firm must organise and control its affairs responsibly and effectively. • Fundamental Rule 7—a firm must deal with its regulators in an open and co-operative way and must disclose to the PRA appropriately anything

The PRA was created by the Financial Services Act 2012 and is a part of the Bank of England. The PRA is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. In total the PRA regulates around 1,700 financial firms.

Cancellation refers to the removal of a firm's Part 4A permission. Where Prudential Regulation Authority (PRA)-authorised firms cease to carry out regulated activities, their Part 4A permission must be cancelled. The PRA can also use its own-initiative powers to cancel a permission in certain circumstances. Where requirements have been placed on authorised firms, these can also be cancelled, either at the request of authorised firms or where the PRA uses its own-initiative powers. If a PRA-authorised firm wishes to have its Part 4A permission cancelled it must demonstrate to the PRA that it has ceased or will cease to carry on regulated activities. For further information about firms that are designated PRA-authorised firms, see Practice Note: FCA and PRA authorisation under Part 4A of FSMA 2000. Cancellation of permission Cancellation at the request of an authorised person The PRA can cancel the Part 4A permission of PRA-authorised firms at the firm’s request, provided that the PRA has first consulted with the FCA. However, the PRA may not cancel a permission in this way in circumstances where

Statutory framework Section 8 of the Financial Services Act 2012 (FSA 2012) added a new section 22A to the Financial Services and Markets Act 2000 (FSMA 2000) which provides that HM Treasury may, by order, specify which regulated activities are Prudential Regulation Authority (PRA)-regulated activities. In March 2013 HM Treasury published the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 (PRA RAO 2013), SI 2013/556. The Order gives the PRA power to designate investment firms that are authorised to deal in investments as principal for prudential supervision by the PRA. Statement of policy The Statement of Policy—Designation of investment firms for prudential supervision by the Prudential Regulation Authority sets out how the PRA will approach designation of investment firms and the factors which the PRA will take into account when deciding whether to designate a firm. It is issued under PRA RAO 2013, SI 2013/556, art 8. The PRA can designate an investment firm for prudential supervision by the PRA where: • the person has been granted, or has applied for, permission

This Practice Note looks at the powers of the Prudential Regulation Authority (PRA) to impose and vary requirements. For guidance on the cancellation of requirements, see Practice Note: Prudential Regulation Authority—cancelling permission and requirements. A 'requirement' is a condition imposed on an authorised person by the PRA. The PRA's powers in relation to requirements are not as wide as those of the Financial Conduct Authority (FCA). It can only impose requirements on: • persons who have applied for permission for PRA-regulated activities; • PRA-authorised persons who have applied for permission or the variation of a permission; and • FCA-authorised persons who have applied to add PRA-regulated activities to their permission By contrast the FCA is able to impose requirements on persons whether they have applied to the PRA or FCA for permission or the variation of a permission. Examples of a requirement might include a requirement on a firm preventing it from taking on new customers or requiring it to retain assets so that it can meet future liabilities owed to consumers. For

Scope of this Practice Note This Practice Note explains the statutory objectives and regulatory principles that frame the way in which the Prudential Regulation Authority (PRA) discharges its functions. It does not consider the PRA’s structure, governance, detailed functions, powers or sector-specific supervisory approach except where this is necessary to explain the objectives framework. For more information about those topics, see Practice Notes: • Prudential Regulation Authority—structure, functions and duties • Prudential Regulation Authority—powers • Prudential Regulation Authority—supervisory approach—deposit-takers • Prudential Regulation Authority—supervisory approach—insurers Scope of PRA regulation While Prudential Regulation Authority (PRA)-regulated firms are regulated by the Financial Conduct Authority (FCA) for conduct purposes, the PRA is primarily responsible for their prudential regulation. The institutions that fall within the PRA's scope are those with the most significant potential impact on the stability of the UK economy, including banks, building societies, insurers and certain investment firms. General objective of the PRA The PRA has one over-arching objective of 'promoting the safety and soundness of PRA-authorised firms' (ie dual-regulated firms). This objective is found

Prudential Regulation Authority’s (PRA’s) principal statutory powers under the Financial Services and Markets Act 2000 (FSMA 2000) and related legislation, including rule-making, firm-specific requirements, information-gathering, publication of statutory notices, powers over auditors and actuaries, qualifying parent undertakings, designated investment firms and critical third parties. It does not cover the PRA’s institutional structure, statutory objectives, or general duties, or the wider architecture of PRA/FCA co-ordination, which are addressed elsewhere in this subtopic. For more information about these matters, see Practice Notes: • Prudential Regulation Authority—structure, functions and duties • Prudential Regulation Authority—objectives and principles • Interaction between the PRA, FCA and FPC • Prudential Regulation Authority—Proactive Intervention Framework • Prudential Regulation Authority—designation of investment firms Legislative background to the PRA’s powers The PRA’s powers are set out in the UK’s FSMA 2000. Under the FSMA 2000 model, Parliament and HM Treasury set the statutory framework and regulatory perimeter, while the detailed regulatory standards applying to firms are, in general, made by the regulators through rules. The PRA’s powers should therefore be read as part of a delegated rule-making and

The general objective of the Prudential Regulation Authority (PRA) is to promote the safety and soundness of the firms it regulates. Its objectives are primarily met by seeking: • to ensure the business of PRA regulated firms is carried out to avoid an adverse effect (ie a disruption to the continuity) on the stability of the financial system, and • to minimise the adverse effect any failure (eg insolvency) by a PRA regulated firm could have on that stability This Practice Note looks at how the PRA assesses the risk that PRA regulated firms present to the UK financial system. It complements a range of Practice Notes in Lexis+® UK including: Prudential Regulation Authority—supervisory approach—deposit-takers, , Prudential Regulation Authority—Proactive Intervention Framework and Prudential Regulation Authority—designation of investment firms. The PRA is responsible for the prudential regulation of deposit-takers, insurers and major investment firms in the UK. In regulating these entities it seeks to promote their safety and soundness in order to avoid adverse effects to the stability of the financial system. It is not the

Legislation establishing the PRA The Prudential Regulation Authority (PRA) forms part of the regulatory structure that the UK government put in place on 1 April 2013. The Financial Services Act (FSA 2012) amended the Financial Services and Markets Act 2000 (FSMA 2000) and established the bodies which replaced the Financial Services Authority (FSA) as the regulator for financial services in the UK. FSMA 2000, Pt 2A, Ch 2 sets out general information about the PRA including details of its objectives, its obligation to consult with practitioners and HM Treasury's power to conduct reviews of its performance. Structure of the PRA The PRA has been structured in this way as it works closely with the Financial Policy Committee (FPC), a committee of the Bank of England (BoE), on prudential regulation. The PRA was originally established as a separate legal entity, and a subsidiary of the BoE. However, the Bank of England and Financial Services Act 2016, ss 12–16, Sch 2, Pt 2 amended the Bank of England Act 1998 (BEA 1998) and FSMA 2000 so that,

The PRA's strategy Up until 1 March 2017, the Prudential Regulation Authority (PRA), was a subsidiary company of the Bank of England (BoE). However, from 1 March 2017 the PRA continued its role acting through the Bank's Prudential Regulation Committee (PRC). HM Treasury made recommendations to the PRC about aspects of the government’s economic policy to which the PRC will have regard when carrying out its activities. HM Treasury can also direct the Bank to take actions to implement the UK’s obligations under the Capital Requirements Directive IV and the Bank Recovery and Resolution Directive, and to refrain from taking actions that are incompatible with those obligations. An end to PRA's subsidiary status was bought about by the Bank of England and Financial Services Act 2016 (Commencement No. 4 and Saving Provision) Regulations 2017, dated 20 January 2017. The Regulations brought certain provisions of the Bank of England and Financial Services Act 2016, including sections 12-15, into force ending the subsidiary status of the PRA. The PRA is the UK’s prudential regulator for deposit-takers, insurance