15(1)The FCA or PRA (“the authority”) may present a petition to the court for the winding up of a registered society that was registered or treated as registered under the 1893 Act before 26 July 1938 if it appears to the authority—E+W+S
(a)that it meets neither of the conditions in section 2(2)(a), and
(b)that the winding up of the society would be in the interests of persons who have invested or deposited money with the society or any other person.
(2)The FCA must consult the PRA before presenting a petition in respect of a PRA-authorised person.
(3)The PRA must consult the FCA before presenting a petition.