The Risk Transformation Regulations 2017 No. 1212

SCHEDULE 3 U.K. Administration and liquidation of the core: modification of insolvency legislation

Part 24 of FSMA: references to “regulated activities” and “PRA-authorised person” U.K.

9.  If the protected cell company has (or had) permission to carry on a regulated activity under Part 4A (permission to carry on regulated activities) of FSMA, then Part 24 (insolvency) of FSMA applies to the core as if the core has (or had) that permission.