Financial Services Act 2012, Paragraph 3 is up to date with all changes known to be in force on or before 09 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.
3(1)Section 356 (powers to participate in proceedings: company voluntary arrangements) is amended as follows.U.K.
(2)In subsections (1) and (2), for “the Authority” substitute “ or recognised investment exchange, the appropriate regulator ”.
(3)In subsection (3)—
(a)for “the Authority”, in the first place, substitute “ a regulator ”, and
(b)for “the Authority”, in the second place, substitute “ the appropriate regulator ”.
(4)After subsection (3) insert—
“(4)The appropriate regulator” means—
(a)in the case of a PRA-authorised person—
(i)for the purposes of subsections (1) and (2), the FCA or the PRA, and
(ii)for the purposes of subsection (3), each of the FCA and the PRA;
(b)in any other case, the FCA.
(5)If either regulator makes an application to the court under any of those provisions in relation to a PRA-authorised person, the other regulator is entitled to be heard at any hearing relating to the application.”
(5)In the heading, for “Authority's powers” substitute “ Powers of FCA and PRA ”.
Commencement Information
I1Sch. 14 para. 3 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.
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