SCHEDULE 8Amendments of the Building Societies Act 1986
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1
Section 36A144 (power to make prohibition orders) is amended as follows.
2
For “Authority”, in each place, substitute “appropriate authority”.
3
After subsection (5D), insert—
5E
The PRA must consult the FCA about the terms of the prohibition order in question before giving a warning notice or a decision notice under this section.
4
In subsection (6), omit “, and shall keep a copy of the order in the public file of the society”.
5
After subsection (9), insert—
9A
The PRA must give the FCA a copy of any order issued under this section.
9B
The FCA must keep a copy of any order issued under this section in the public file of the society.