SCHEDULES

SCHEDULE 6Control of business transfers

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(1)

Section 113 (appointment of actuary) is amended as follows.

(2)

In subsection (2)—

(a)

for “the Authority”, in the first place, substitute “ either regulator ”, and

(b)

for “Authority”, in the second place, substitute “ regulator which made the application ”.

(3)

After that subsection insert—

“(3)

An application under subsection (2) may be made by the PRA only if—

(a)

the authorised person concerned or the transferee is a PRA-authorised person, or

(b)

the authorised person concerned or the transferee has as a member of its immediate group a PRA-authorised person.”