Where the PRA determines that the conditions in section 192R are not met, or have ceased to be met, by a company which is subject to the requirement for approval under section 192P(1), the PRA must take appropriate measures in relation to the company—
to ensure the continuity and integrity of the consolidated or sub-consolidated supervision of the group of which the company is part (the "relevant group"); ...
to ensure that the relevant group complies with the requirements in Directive 2013/36/EU UK law , CRR rules ... and the capital requirements regulation on a consolidated or sub-consolidated basis , and
to ensure that the relevant group complies with section 192XA rules.
Measures taken under subsection (1) may include a direction—
suspending the exercise by the company of voting rights attached to the shares of specified subsidiary institutions held by the company;
requiring the company to transfer its holdings in its subsidiary institutions to its shareholders;
designating another financial holding company, mixed financial holding company or institution within the group as being responsible for a period specified in the direction for ensuring that the group complies with the requirements laid down in Directive 2013/36/EU UK law , CRR rules ... and in the capital requirements regulation on a consolidated or sub-consolidated basis and with section 192XA rules;
restricting or prohibiting distributions or interest payments to shareholders;
requiring the company to divest from, or reduce its holdings in, institutions or financial institutions;
requiring the company to submit a plan setting out how it proposes to correct any deficiencies in its compliance with the conditions in section 192R.
Where the PRA determines that a company which it has confirmed is exempt from the requirement for approval under section 192P no longer satisfies the conditions for exemption under section 192P(3), it must direct that company to apply for approval for the purposes of section 192P(1)(a).