SCHEDULES
SCHEDULE 14Amendments of Part 24 of FSMA 2000: insolvency
12
1
Section 365 (powers to participate in proceedings: voluntary winding up) is amended as follows.
2
In subsection (1)(b), after “authorised person” insert “or recognised investment exchange”.
3
In subsections (2) to (7), for “Authority” substitute “appropriate regulator”.
4
After subsection (7) insert—
8
The appropriate regulator” means—
a
for the purposes of subsections (2) to (4), (6) and (7)—
i
where the company is a PRA-authorised 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-authorised 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”.