Financial Services and Markets Act 2000

357Authority’s powers to participate in proceedings: individual voluntary arrangements

This sectionnoteType=Explanatory Notes has no associated

(1)The Authority is entitled to be heard on an application by an individual who is an authorised person under section 253 of the 1986 Act (or Article 227 of the 1989 Order).

(2)Subsections (3) to (6) apply if such an order is made on the application of such a person.

(3)A person appointed for the purpose by the Authority is entitled to attend any meeting of creditors of the debtor summoned under section 257 of the 1986 Act (or Article 231 of the 1989 Order).

(4)Notice of the result of a meeting so summoned is to be given to the Authority by the chairman of the meeting.

(5)The Authority may apply to the court—

(a)under section 262 of the 1986 Act (or Article 236 of the 1989 Order); or

(b)under section 263 of the 1986 Act (or Article 237 of the 1989 Order).

(6)If a person other than the Authority makes an application to the court under any provision mentioned in subsection (5), the Authority is entitled to be heard at any hearing relating to the application.