SCHEDULES

SCHEDULE 14Amendments of Part 24 of FSMA 2000: insolvency

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1

Section 359 (administration order) is amended as follows.

2

In subsection (1)—

a

for “Authority” substitute “ FCA ”, and

b

in paragraph (a), after “authorised person” insert “ or recognised investment exchange ”.

3

After subsection (1) insert—

1A

The PRA may make an administration application under Schedule B1 to the 1986 Act or Schedule B1 to the 1989 Order in relation to a company or insolvent partnership which is a PRA-regulated person.

4

In subsection (2), for “the Authority” substitute “ a regulator ”.

5

In subsection (4), in the definition of “authorised deposit taker”, for “Part IV”, in both places, substitute “ Part 4A ”.