C1C2C3Part XXIV Insolvency
Pt. 24 applied in part (with modifications) (8.7.2021) by S.I. 2017/752, Sch. 6 para. 9 (as substituted by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 48(1))
Pt. 24 applied in part (with modifications) (8.7.2021) by S.I. 2011/99, Sch. 3 para. 7 (as substituted by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 48(2))
Winding up by the court
369AF1Reclaim funds: service of petition etc on F2FCA and PRA
1
2
3
In this section “authorised reclaim fund” F8has the same meaning as in the Dormant Assets Acts 2008 to 2022 (see section 26 of the Dormant Assets Act 2022).
F34
"The appropriate regulator” means—
a
in relation to an authorised reclaim fund that is a PRA-authorised person, the FCA and the PRA, and
b
in relation to any other authorised reclaim fund, the FCA.
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If either regulator—
a
presents a petition for the winding up of an authorised reclaim fund that is a PRA-authorised person, or
b
applies to have a provisional liquidator appointed under section 135 of the 1986 Act (or Article 115 of the 1989 Order) in respect of an authorised reclaim fund that is a PRA-authorised person,
that regulator must serve a copy of the petition or application (as the case requires) on the other regulator.
Pt. 24 applied (with modifications) (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 166(2), 167(2), Sch. 2, Sch. 3 (with regs. 168, 189)