SCHEDULE 8Amendments of the Building Societies Act 1986
10.
(1)
Section 36143 (power to direct restructuring of business etc.) is amended as follows.
(2)
For “Authority”, in each place, substitute “appropriate authority”.
(3)
In subsection (5)(b), before “of the result” insert “and, if the appropriate authority is the PRA, the FCA”.
(4)
In subsection (6), before “of the option” insert “and, if the appropriate authority is the PRA, the FCA”.
(5)
After subsection (16), insert—
“(17)
The PRA must consult the FCA before issuing a direction under this section.”.