SCHEDULE 14Amendments of Part 24 of FSMA 2000: insolvency
10
(1)
Section 363 (powers to participate in proceedings: receivership) is amended as follows.
(2)
In subsection (1)(a), after “authorised person” insert “
or recognised investment exchange
”
.
(3)
In subsections (2) to (5), for “Authority” substitute “
appropriate regulator
”
.
(4)
“(6)
The appropriate regulator” means—
(a)
for the purposes of subsections (2) to (4)—
(i)
where the company is a PRA-regulated person, each of the FCA and the PRA, and
(ii)
in any other case, the FCA;
(b)
for the purposes of subsection (5)—
(i)
where the company is a PRA-regulated person, the FCA or the PRA, and
(ii)
in any other case, the FCA.”
(5)
In the heading, for “Authority's powers” substitute “
Powers of FCA and PRA
”
.