Textual Amendments
F1Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
Modifications etc. (not altering text)
C1Sch. A1 applied (with modifications) (E.W.) (1.1.2003) by The Insolvent Partnerships Order 1994 (S.I. 1994/2421), art. 4(1), Sch. 1 (as amended (1.1.2003) by S.I. 2002/2708, arts. 4-6 (with transitional provisions in art. 11); (1.7.2005) by S.I. 2005/1516, art. 6); (6.4.2017) by S.I. 2017/540, reg. 1, Sch. 2 para. 5 (with reg. 4))
C2Sch. A1 extended (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), regs. 1, 15, Sch. 2 para. 7
C3Sch. A1 applied (with modifications) by The Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090), Sch. 3 (as amended 1/10.2005) by The Limited Liability Partnerships (Amendment) Regulations 2005 (S.I. 2005/1989), reg. 1, Sch. 2, para. 14; and (8.12.2017) by The Insolvency (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1119), Sch. 1 paras. 37-53)
C4Sch. A1 applied (with modifications) by 2009 c. 1, s. 154(3A) (as inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 5(6)(c))
C5Sch. A1 modified (E.W.) (31.1.2019) by The Further Education Bodies (Insolvency) Regulations 2019 (S.I. 2019/138), regs. 1(1), 25 (with regs. 1(2), 3(a)(ii))
Textual Amendments
F2Words in Sch. A1 para. 44 cross-heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(16) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
44(1)This Schedule has effect in relation to a moratorium for a regulated company with the modifications in sub-paragraphs (2) to (16) below.E+W+S
(2)Any notice or other document required by virtue of this Schedule to be sent to a creditor of a regulated company must also be sent to the [F3appropriate regulator].
(3)The [F3appropriate regulator] is entitled to be heard on any application to the court for leave under paragraph 20(2) or 20(3) (disposal of charged property, etc.).
(4)Where paragraph 26(1) (challenge of nominee’s actions, etc.) applies, the persons who may apply to the court include the [F3appropriate regulator].
(5)If a person other than [F4a regulator] applies to the court under that paragraph, [F5the appropriate regulator] is entitled to be heard on the application.
(6)Where paragraph 27(1) (challenge of nominee’s actions, etc.) applies, the persons who may apply to the court include the [F6appropriate regulator].
(7)If a person other than [F7a regulator] applies to the court under that paragraph, [F8the appropriate regulator] is entitled to be heard on the application.
[F9(8)The appropriate regulator must be given notice of any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of this Schedule.
(8A)The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules participate in (but not vote in) any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of this Schedule.]
(9)A person appointed for the purpose by the [F10appropriate regulator] is entitled to attend and participate in (but not to vote at)—
F11(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)any meeting of a committee established under paragraph 35 (moratorium committee).
(10)The [F10appropriate regulator] is entitled to be heard on any application under paragraph 36(3) (effectiveness of decisions).
(11)Where paragraph 38(1) (challenge of decisions) applies, the persons who may apply to the court include the [F10appropriate regulator].
(12)If a person other than [F12a regulator] applies to the court under that paragraph, [F13the appropriate regulator] is entitled to be heard on the application.
(13)Where paragraph 39(3) (implementation of voluntary arrangement) applies, the persons who may apply to the court include the [F14appropriate regulator].
(14)If a person other than [F15a regulator] applies to the court under that paragraph, [F16the appropriate regulator] is entitled to be heard on the application.
(15)Where paragraph 40(2) (challenge of directors’ actions) applies, the persons who may apply to the court include the [F17appropriate regulator].
(16)If a person other than [F18a regulator] applies to the court under that paragraph, [F19the appropriate regulator] is entitled to be heard on the application.
[F20(16A)If either regulator makes an application to the court under any of the provisions mentioned in sub-paragraphs (5), (7), (12), (14) or (16) in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.]
(17)This paragraph does not prejudice any right the [F21appropriate regulator] has (apart from this paragraph) as a creditor of a regulated company.
[F22(17A)The appropriate regulator” means—
(a)for the purposes of sub-paragraphs (2) to (8) and (10) to (17)—
(i)where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and
(ii)in any other case, the Financial Conduct Authority;
(b)for the purposes of [F23sub-paragraphs (8A) and] (9)—
(i)where the regulated company is a PRA-regulated company, the Financial Conduct Authority or the Prudential Regulation Authority, and
(ii)in any other case, the Financial Conduct Authority.]
(18)In this paragraph—
[F24“PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;
“PRA-regulated company” means a regulated company which—
is, or has been, a PRA-authorised person,
is, or has been, an appointed representative within the meaning given by section 39 of the the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or
is carrying on, or has carried on, a PRA-regulated activity in contravention of the general prohibition;]
“regulated company” means a company which—
is, or has been, an authorised person within the meaning given by section 31 of the M1Financial Services and Markets Act 2000,
is, or has been, an appointed representative within the meaning given by section 39 of that Act, or
is carrying on, or has carried on, a regulated activity, within the meaning given by section 22 of that Act, in contravention of the general prohibition within the meaning given by section 19 of that Act.
[F25“regulator” means the Financial Conduct Authority or the Prudential Regulation Authority.]]
Textual Amendments
F3Words in Sch. A1 para. 44(2)-(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Words in Sch. A1 para. 44(5) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(3)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5Words in Sch. A1 para. 44(5) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(3)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F6Words in Sch. A1 para. 44(6) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F7Words in Sch. A1 para. 44(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(5)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F8Words in Sch. A1 para. 44(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(5)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F9Sch. A1 para. 44(8)(8A) substituted for Sch. A1 para. 44(8) (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 9(45); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)
F10Words in Sch. A1 para. 44(8)-(11) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(6) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F11Sch. A1 para. 44(9)(a) omitted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by virtue of Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 9(46); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)
F12Words in Sch. A1 para. 44(12) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(7)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F13Words in Sch. A1 para. 44(12) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(7)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F14Words in Sch. A1 para. 44(13) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(8) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F15Words in Sch. A1 para. 44(14) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(9)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F16Words in Sch. A1 para. 44(14) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(9)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F17Words in Sch. A1 para. 44(15) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(10) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F18Words in Sch. A1 para. 44(16) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(11)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F19Words in Sch. A1 para. 44(16) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(11)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F20Sch. A1 para. 44(16A) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(12) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F21Words in Sch. A1 para. 44(17) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(13) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F22Sch. A1 para. 44(17A) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(14) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F23Words in Sch. A1 para. 44(17A)(b) substituted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 9 para. 9(47); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(e) (with reg. 5) (as amended by S.I. 2017/363, reg. 3); S.I. 2019/816, reg. 4(c) (with reg. 5)
F24Words in Sch. A1 para. 44(18) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(15)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F25Words in Sch. A1 para. 44(18) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 54(15)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Marginal Citations