Financial Services Act 2012

This adran has no associated Nodiadau Esboniadol

12(1)Section 365 (powers to participate in proceedings: voluntary winding up) is amended as follows.U.K.

(2)In subsection (1)(b), after “authorised person” insert “ or recognised investment exchange ”.

(3)In subsections (2) to (7), for “Authority” substitute “ appropriate regulator ”.

(4)After subsection (7) insert—

(8)The appropriate regulator” means—

(a)for the purposes of subsections (2) to (4), (6) and (7)—

(i)where the company is a PRA-authorised 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-authorised 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 ”.

Commencement Information

I1Sch. 14 para. 12 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.