Financial Services Act 1986 (Repealed)

74 Administration orders. U.K.

A petition may be presented under section 9 of the M1 Insolvency Act 1986 (applications for administration orders) in relation to a company to which section 8 of that Act applies [F1 , or under Article 22 of the Insolvency (Northern Ireland) Order 1989 (applications for administration orders) in relation to a company to which Article 21 of that Order applies,] which is an authorised person, a person whose authorisation is suspended under section 28 above or who is the subject of a direction under section 33(1)(b) above or an appointed representative—

(a) in the case of an authorised person who is an authorised person by virtue of membership of a recognised self-regulating organisation or certification by a recognised professional body, by that organisation or body; and

(b) in the case of an appointed representative or an authorised person who is not authorised as mentioned in paragraph (a) above or is so authorised but is not subject to the rules of the organisation or body in question in the carrying on of all investment business carried on by him, by the Secretary of State.

Textual Amendments

F1 Words in s. 74 inserted (N.I.)(1. 10. 1991) by S.I. 1989/2405 (N.I. 19), art. 381(2), Sch. 9 Pt. II para. 48; S.R. 1991/411, art.2.

Modifications etc. (not altering text)

C1 S. 74 applied (with modifications) (15.8.1995) by S.I. 1995/2049, regs. 6, 7-18

Marginal Citations

M1 1986 c. 45.