The Financial Markets and Insolvency (Money Market) Regulations 1995

Powers of intervention

14.  Section 72 of the 1986 Act (winding up orders) shall apply in relation to a listed person as if—

(a) the powers conferred on the court were exercisable only on the presentation of a petititon by the Bank of England(1);

(b) the references to an appointed representative were omitted;

(c) references to an authorised person, to any person whose authorisation is suspended under section 28 of the 1986 Act or who is the subject of a direction under section 33(1)(b) of that Act were references to a listed person; and

(d) the provisions of subsections (2)(d) and (3) to (5) were omitted.

(1)

The powers conferred by section 72 of the Financial Services Act 1986 are exercisable concurrently by the Secretary of State and the Securities and Investments Board—see the Financial Services Act 1986 (Delegation) Order 1987 (S.I. 1987/942).