SCHEDULE 8Amendments of the Building Societies Act 1986
I110
1
Section 36143 (power to direct restructuring of business etc.) is amended as follows.
2
For “Authority”, in each place, substitute “appropriate authority”.
3
In subsection (5)(b), before “of the result” insert “and, if the appropriate authority is the PRA, the FCA”.
4
In subsection (6), before “of the option” insert “and, if the appropriate authority is the PRA, the FCA”.
5
After subsection (16), insert—
17
The PRA must consult the FCA before issuing a direction under this section.