This section has no associated Explanatory Notes
6(1)Section 359 (administration order) is amended as follows.
(2)In subsection (1)—
(a)for “Authority” substitute “FCA”, and
(b)in paragraph (a), after “authorised person” insert “or recognised investment exchange”.
(3)After subsection (1) insert—
“(1A)The PRA may make an administration application under Schedule B1 to the 1986 Act or Schedule B1 to the 1989 Order in relation to a company or insolvent partnership which is a PRA-regulated person.”
(4)In subsection (2), for “the Authority” substitute “a regulator”.
(5)In subsection (4), in the definition of “authorised deposit taker”, for “Part IV”, in both places, substitute “Part 4A”.