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.