SCHEDULE 2Amendments of subordinate legislation

The Bankruptcy (Financial Services and Markets Act 2000) (Scotland) Rules 200161

In the Bankruptcy (Financial Services and Markets Act 2000) (Scotland) Rules 2001115—

a

in rule 2 (interpretation), after the definition of “individual” insert—

  • “the regulator” in relation to an individual means—

    1. a

      if the individual is a PRA-authorised person, or was carrying on a PRA-regulated activity in contravention of the general prohibition, the FCA or the PRA,

    2. b

      in any other case, the FCA,

and terms used in this definition which are defined in the Act have the meaning given in the Act.

b

in rule 3 (form of demand)—

i

in paragraphs (a) and (e), for “Authority’s” substitute “regulator’s”;

ii

in paragraph (f)(i), for “Authority” substitute “regulator”;

c

in rule 5(2) (application to set aside a demand), for “Authority” substitute “regulator”.