SCHEDULE 8Amendments of the Building Societies Act 1986

I111

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.