The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013

The Cross-Border Insolvency Regulations 2006

This section has no associated Explanatory Memorandum

116.  In the Cross-Border Insolvency Regulations 2006(1)—

(a)in Schedule 2 (procedural matters in England and Wales)—

(i)in paragraph 1—

(aa)for sub-paragraph (6) substitute—

“(6) References in this Schedule to a debtor who is of interest to the Financial Conduct Authority are references to a debtor who—

(a)is, or has been, an authorised person within the meaning of the Financial Services and Markets Act 2000;

(b)is, or has been, an appointed representative within the meaning of section 39 of the Financial Services and Markets Act 2000; or

(c)is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.

(6A) References in this Schedule to a debtor who is of interest to the Prudential Regulation Authority are references to a debtor who—

(a)is, or has been, a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000; or

(b)is carrying on, or has carried on, a PRA-regulated activity within the meaning of the Financial Services and Markets Act 2000 in contravention of the general prohibition.”;

(bb)in sub-paragraph (7), for “sub-paragraph (6)” substitute “sub-paragraphs (6) and (6A)”;

(ii)in paragraph 21(2)—

(aa)at the end of paragraph (h) omit “and”;

(bb)for paragraph (i) substitute—

“(i)if the debtor is a debtor who is of interest to the Financial Conduct Authority, on that Authority; and

(j)if the debtor is a debtor who is of interest to the Prudential Regulation Authority, on that Authority.”;

(iii)for paragraph 25(1)(i) substitute—

“(i)if the debtor is a debtor who is of interest to the Financial Conduct Authority, that Authority;

(ia)if the debtor is a debtor who is of interest to the Prudential Regulation Authority, that Authority; and”;

(iv)for paragraph 26(3)(g) substitute—

“(g)if the debtor is a debtor who is of interest to the Financial Conduct Authority, to that Authority;

(ga)if the debtor is a debtor who is of interest to the Prudential Regulation Authority, to that Authority;”;

(b)in Schedule 3 (procedural matters in Scotland)—

(i)in paragraph 1—

(aa)for sub-paragraph (3) substitute—

“(3) References in this Schedule to a debtor who is of interest to the Financial Conduct Authority are references to a debtor who—

(a)is, or has been, an authorised person within the meaning of the Financial Services and Markets Act 2000;

(b)is, or has been, an appointed representative within the meaning of section 39 of the Financial Services and Markets Act 2000; or

(c)is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.

(3A) References in this Schedule to a debtor who is of interest to the Prudential Regulation Authority are references to a debtor who—

(a)is, or has been, a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000; or

(b)is carrying on, or has carried on, a PRA-regulated activity within the meaning of the Financial Services and Markets Act 2000 in contravention of the general prohibition.”;

(bb)in sub-paragraph (4), for “sub-paragraph (3)” substitute “sub-paragraphs (3) and (3A)”;

(ii)for paragraph 6(1)(i) substitute—

“(i)if the debtor is a debtor who is of interest to the Financial Conduct Authority, that Authority;

(ia)if the debtor is a debtor who is of interest to the Prudential Regulation Authority, that Authority; and”;

(iii)for paragraph 7(3)(g) substitute—

“(g)if the debtor is a debtor who is of interest to the Financial Conduct Authority, to that Authority;

(ga)if the debtor is a debtor who is of interest to the Prudential Regulation Authority, to that Authority; and”;

(c)in Schedule 5 (forms), in form ML6, for “Financial Services Authority” in each place substitute “Financial Conduct Authority and, where relevant, the Prudential Regulation Authority”.