Related provisions for INSPRU 3.2.34A

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

A transaction offsets an obligation to transfer assets away from the firm only if it provides for the transfer to the firm of those assets, or their value, at the time, or before, the obligation falls due.
A transaction offsets an obligation to pay a monetary amount only if it provides for that monetary amount to be paid to the firm at or before the earliest date on which the obligation might fall due.
Where the FCA grants permission for multiple transactions, then that permission is expected to cover a defined scope of potential transactions. The permission is expected to enable a firm (within certain limits) to carry out these transactions without notifying the FCA in each individual instance.
IFPRU 4.12.18GRP
The FCA intends to apply two materiality limits to the proportion of risk-weighted exposure amount (RWEA) relief that can be taken under any permission covering multiple transactions:(1) transaction level limit any transaction that would, in principle, be within the scope of the permission, but that resulted in an RWEA reduction exceeding 1% of the firm's credit risk-related RWEAs as at the date of the firm's most recent regulatory return, will fall outside the scope of a multiple
IFPRU 4.12.22GRP
Depending on the nature of a transaction, the FCA may grant an individual permission for the duration of the transaction, or may impose a time limit on the permission. Where a firm sought to take capital relief on a transaction beyond the expiry date of the relevant permission, the firm would need to renew the permission prior to its expiry date.