Financial Services Act 2012, Paragraph 10 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
10(1)Section 363 (powers to participate in proceedings: receivership) is amended as follows.U.K.
(2)In subsection (1)(a), after “authorised person” insert “ or recognised investment exchange ”.
(3)In subsections (2) to (5), for “Authority” substitute “ appropriate regulator ”.
(4)After subsection (5) insert—
“(6)The appropriate regulator” means—
(a)for the purposes of subsections (2) to (4)—
(i)where the company is a PRA-regulated 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-regulated 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. 10 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
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