SCHEDULE 2Amendments of the Industrial and Provident Societies Act 1965
10
1
Section 5643 (power to petition for winding up) is amended as follows.
2
Number the existing provision as subsection (1).
3
In that subsection, for “Authority”—
a
in the first place, substitute “FCA or PRA”, and
b
in the second place, substitute “FCA or PRA (as the case may be)”.
4
After that subsection, insert—
2
The FCA must consult the PRA before presenting a petition under subsection (1) in respect of a PRA-authorised person.
3
The PRA must consult the FCA before presenting a petition under subsection (1).
5
In the heading, for “registrar” substitute “FCA and PRA”.