Financial Services and Markets Act 2000 (c. 8)

Part VII U.K. Control of Business Transfers

Modifications etc. (not altering text)

C1 Pt. 7: power to amend conferred (1.9.2023) by Financial Services Act 2021 (c. 22), ss. 22(8)(a), 49(5); S.I. 2023/934, reg. 2(c)

[F1 103A Meaning of “the appropriate regulator” U.K.

(1) In this Part “the appropriate regulator” means—

(a) in relation to [F2 a ring-fencing transfer scheme or a scheme (other than a ring-fencing transfer scheme)] in respect of which [F3 the transferor concerned] is a PRA-authorised person, the PRA;

(b) in any other case, the FCA.

(2) In this Part, “[F3 the transferor concerned]”—

(a) in the case of an insurance business transfer scheme, is to be read in accordance with section 105(2);

(b) in the case of a banking business transfer scheme, is to be read in accordance with section 106(2);

(c) in the case of a reclaim fund business transfer scheme, means the reclaim fund to whose business the scheme relates.

[F4 (d) in the case of a ring-fencing transfer scheme, means the body to whose business the scheme relates.]]

Textual Amendments

F1 S. 103A inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 2 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F2 Words in s. 103A(1)(a) substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 3(2); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

F3 Words in Pt. VII substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 2; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

F4 S. 103A(2)(d) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 3(3); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1