The Financial Services Act 2012 (Mutual Societies) Order 2013 No. 496

SCHEDULE 2 Amendments of the Industrial and Provident Societies Act 1965

3.—(1) Section 16 (cancellation of registration of society) is further amended as follows.

(2) After subsection (2), insert—

“(2A) The FCA must consult the PRA before cancelling the registration of a registered society which is a PRA-authorised person.”.

(3) After subsection (4), insert—

“(4A) The FCA must consult the PRA before issuing directions under subsection (4) to a registered society which is a PRA-authorised person.”.