SCHEDULES

SCHEDULE 14U.K.Amendments of Part 24 of FSMA 2000: insolvency

10(1)Section 363 (powers to participate in proceedings: receivership) is amended as follows.U.K.

(2)In subsection (1)(a), after “authorised person” insert “ or recognised investment exchange ”.

(3)In subsections (2) to (5), for “Authority” substitute “ appropriate regulator ”.

(4)After subsection (5) insert—

“(6)The appropriate regulator” means—

(a)for the purposes of subsections (2) to (4)—

(i)where the company is a PRA-regulated person, each of the FCA and the PRA, and

(ii)in any other case, the FCA;

(b)for the purposes of subsection (5)—

(i)where the company is a PRA-regulated person, the FCA or the PRA, and

(ii)in any other case, the FCA.”

(5)In the heading, for “Authority's powers” substitute “ Powers of FCA and PRA ”.

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