This section has no associated Explanatory Memorandum
5.—(1) Section 43 (duties of receiver or manager of society’s property) is further amended as follows.
(2) Number the existing provision as subsection (1).
(3) After that subsection, insert—
“(2) If the society is a PRA-authorised person—
(a)the receiver or manager must send to the PRA a copy of any notification or return sent under subsection (1) to the FCA; and
(b)the FCA must consult the PRA before allowing a period of greater than one month under paragraph (b) of subsection (1).”.