Prospective
This section has no associated Explanatory Notes
10U.K.After section 367 insert—
“367AWinding-up petitions: Gibraltar-based persons
(1)A regulator may not present a petition to the court under section 367 for the winding up of a Gibraltar-based person who has a Schedule 2A permission unless either regulator has been asked to do so by the Gibraltar regulator.
(2)If a regulator receives a request from the Gibraltar regulator to present a petition to the court under section 367 for the winding up of a Gibraltar-based person who has a Schedule 2A permission, it must—
(a)notify the other regulator of the request, and
(b)provide the other regulator with such information relating to the request as it thinks fit.
(3)In this section, “the Gibraltar regulator” has the meaning given in Schedule 2A (see paragraph 2 of that Schedule).”