Part VII Control of Business Transfers
C1110 Right to participate in proceedings.
F11
On an application under section 107 F6relating to an insurance business transfer scheme, a banking business transfer scheme or a reclaim fund business transfer scheme, the following are also entitled to be heard—
F3a
the FCA,
aa
in the case of a scheme falling within subsection (2), the PRA, and
b
any person (including an employee of F4the transferor concerned or of the transferee) who alleges that he would be adversely affected by the carrying out of the scheme.
F22
A scheme falls within this subsection if—
a
F4the transferor concerned or the transferee is a PRA-authorised person, or
b
F4the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.
F53
Subsections (4) and (5) apply where an application under section 107 relates to a ring-fencing transfer scheme.
4
The following are also entitled to be heard—
a
the PRA,
b
where the transferee is an authorised person, the FCA, and
c
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.
5
P is not entitled to be heard by virtue of subsection (4)(c) unless before the hearing P has—
a
filed (in Scotland, lodged) with the court a written statement of the representations that P wishes the court to consider, and
b
served copies of the statement on the PRA and the transferor concerned.