in relation to F2a ring-fencing transfer scheme or a scheme (other than a ring-fencing transfer scheme) in respect of which F3the transferor concerned is a PRA-authorised person, the PRA;

in any other case, the FCA.

in the case of an insurance business transfer scheme, is to be read in accordance with section 105(2);

in the case of a banking business transfer scheme, is to be read in accordance with section 106(2);

in the case of a reclaim fund business transfer scheme, means the reclaim fund to whose business the scheme relates.

satisfies F6the condition set out in subsection (2);

results in the business transferred being carried on from an establishment of the transferee in F7the United Kingdom or Gibraltar; and

is not an excluded scheme.

F3the transferor concerned is a UK authorised person;

the business to be transferred under the scheme is carried on in one or more countries or territories F10outside the United Kingdom and does not include policies of insurance F11. . . against risks arising in F12the United Kingdom; and

the scheme has been approved by a court in a country or territory F13outside the United Kingdom or by the authority responsible for the supervision of that business in a country or territory in which it is carried on.

the business to be transferred under the scheme is the whole of the business of F3the transferor concerned;

all the policyholders are controllers of the firm or of firms within the same group as the firm which is the transferee, and,

all of the policyholders who will be affected by the transfer have consented to it.

the business of F3the transferor concerned consists solely of the effecting or carrying out of contracts of reinsurance;

the business to be transferred is the whole or part of that business;

the scheme does not fall within Case 4;

all of the policyholders who will be affected by the transfer have consented to it; and

a certificate has been obtained under paragraph 2 of Schedule 12 in relation to the proposed transfer.

is incorporated in the United Kingdom; or

is an unincorporated association formed under the law of any part of the United Kingdom.

satisfies one of the conditions set out in subsection (2);

is one under which the whole or part of the business to be transferred includes the accepting of deposits; and

is not an excluded scheme F21or a ring-fencing transfer scheme.

the whole or part of the business carried on by a UK authorised person who has permission to accept deposits (“F3the transferor concerned”) is to be transferred to another body (“the transferee”);

the whole or part of the business carried on in the United Kingdom by an authorised person who is not a UK authorised person but who has permission to accept deposits (“F3the transferor concerned”) is to be transferred to another body which will carry it on in the United Kingdom (“the transferee”).

F3the transferor concerned is a building society or a credit union; or

the scheme is a compromise or arrangement to which Part 27 of the Companies Act 2006 (mergers and divisions of public companies) applies.

the M2Credit Unions Act 1979;

the M3Credit Unions (Northern Ireland) Order 1985.

is to be made for one or more of the purposes mentioned in subsection (3), and

is not an excluded scheme or an insurance business transfer scheme.

is incorporated in the United Kingdom,

is a member of the group of a UK authorised person, and

is not itself an authorised person.

enabling a UK authorised person to carry on core activities as a ring-fenced body in compliance with the ring-fencing provisions;

enabling the transferee to carry on core activities as a ring-fenced body in compliance with the ring-fencing provisions;

making provision in connection with the implementation of proposals that would involve a body corporate whose group includes the body corporate to whose business the scheme relates becoming a ring-fenced body while one or more other members of its group are not ring-fenced bodies;

making provision in connection with the implementation of proposals that would involve a body corporate whose group includes the transferee becoming a ring-fenced body while one or more other members of the transferee's group are not ring-fenced bodies.

the body to whose business the scheme relates is a building society or credit union, or

the scheme is a compromise or arrangement to which Part 27 of the Companies Act 2006 (mergers and divisions of public companies) applies.

F3the transferor concerned;

the transferee; or

both.

if F3the transferor concerned and the transferee are registered or have their head offices in the same jurisdiction, to the court in that jurisdiction;

if F3the transferor concerned and the transferee are registered or have their head offices in different jurisdictions, to the court in either jurisdiction;

if the transferee is not registered in the United Kingdom and does not have his head office there, to the court which has jurisdiction in relation to F3the transferor concerned.

the High Court; or

in Scotland, the Court of Session.

as to the persons to whom, and periods within which, notice of an application must be given;

enabling the court to waive a requirement of the regulations in prescribed circumstances.

appearing to the F29appropriate regulator to have the skills necessary to enable him to make a proper report; and

nominated or approved for the purpose by the F29appropriate regulator.

nominating or approving a person under subsection (2)(b), or

approving a form under subsection (3).

the transferee is a PRA-authorised person, or

F3the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.

nominating or approving a person under subsection (2)(b), or

approving a form under subsection (3).

appearing to the PRA to have the skills necessary to enable the person to make a proper report, and

nominated or approved for the purpose by the PRA.

whether persons other than the transferor concerned are likely to be adversely affected by the scheme, and

if so, whether the adverse effect is likely to be greater than is reasonably necessary in order to achieve whichever of the purposes mentioned in section 106B(3) is relevant.

nominating or approving a person under subsection (2)(b), or

approving a form under subsection (3).

the FCA,

in the case of a scheme falling within subsection (2), the PRA, and

any person (including an employee of F3the transferor concerned or of the transferee) who alleges that he would be adversely affected by the carrying out of the scheme.

F3the transferor concerned or the transferee is a PRA-authorised person, or

F3the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.

the PRA,

where the transferee is an authorised person, the FCA, and

any person (“P”) (including an employee of the transferor concerned or of the transferee) who alleges that P would be adversely affected by the carrying out of the scheme.

filed (in Scotland, lodged) with the court a written statement of the representations that P wishes the court to consider, and

served copies of the statement on the PRA and the transferor concerned.

F39in the case of an insurance business transfer scheme or a banking business transfer scheme, the appropriate F40certificate has been obtained (as to which see Parts I and II of Schedule 12);

in the case of a reclaim fund business transfer scheme, the appropriate certificate has been obtained (as to which see Part 2A of that Schedule);

in the case of a ring-fencing transfer scheme, the appropriate certificates have been obtained (as to which see Part 2B of that Schedule);

the transferee has the authorisation required (if any) to enable the business, or part, which is to be transferred to be carried on in the place to which it is to be transferred (or will have it before the scheme takes effect).

for the transfer to the transferee of the whole or any part of the undertaking concerned and of any property or liabilities of F3the transferor concerned;

for the allotment or appropriation by the transferee of any shares, debentures, policies or other similar interests in the transferee which under the scheme are to be allotted or appropriated to or for any other person;

for the continuation by (or against) the transferee of any pending legal proceedings by (or against) F3the transferor concerned;

with respect to such incidental, consequential and supplementary matters as are, in its opinion, necessary to secure that the scheme is fully and effectively carried out.

transfer property or liabilities whether or not F3the transferor concerned otherwise has the capacity to effect the transfer in question;

make provision in relation to property which was held by F3the transferor concerned as trustee;

make provision as to future or contingent rights or liabilities of F3the transferor concerned, including provision as to the construction of instruments (including wills) under which such rights or liabilities may arise;

make provision as to the consequences of the transfer in relation to any F43occupational pension scheme (within the meaning of section 150(5) of the Finance Act 2004) operated by or on behalf of F3the transferor concerned.

for the transfer of property or liabilities which would not otherwise be capable of being transferred or assigned;

the property is transferred to and vests in, and

the liabilities are transferred to and become liabilities of,

for dealing with the interests of any person who, within such time and in such manner as the court may direct, objects to the scheme;

for the dissolution, without winding up, of F3the transferor concerned;

the transferee is a PRA-authorised person, or

F3the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.

to terminate, modify, acquire or claim an interest or right; or

to treat an interest or right as terminated or modified.

is not enforceable in relation to that interest or right until after an order has been made under section 112(1) in relation to the scheme; and

is then enforceable in relation to that interest or right only insofar as the order contains provision to that effect.

to investigate the business transferred under the scheme; and

to report to the F56regulator which made the application on any reduction in the benefits payable under policies entered into by F3the transferor concerned that, in the opinion of the actuary, ought to be made.

F3the transferor concerned or the transferee is a PRA-authorised person, or

F3the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.