Member

49: Clause 17, page 22, line 18, leave out from “sub-paragraph” to the end of line 20 and insert “(4)(b), for “the regulatory principles in section 3B” substitute “the proportionality regulatory principles (see section 3B(1A))”.” Member's explanatory statement This amendment would require notifications by the PRA to chairs of relevant Parliamentary Committees to specify the parts of the consultation that demonstrate that the PRA has had regard to the proportionality regulatory principles (as defined in the amendment in the name of Lord Pitt-Watson to clause 17 at page 22, line 3) when preparing the proposals.