The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

Application of provisions of FSMA: general provision U.K.

10.—(1) In the application in relation to a relevant society of any of the provisions applied by articles 5 to 9, except sections 359(4) and 362(1B)—

(a) a reference to a provision of the 1986 Act is a reference to that provision as applied in relation to a relevant society; and

(b) a reference to Schedule B1 to the Insolvency (Northern Ireland) Order 1989 M1 is to be ignored.

(2) In articles 5 to 9—

(a) a reference to a provision of the 1986 Act is a reference to that provision as applied in relation to a relevant society;

(b) “general prohibition” has the meaning given in section 19(2) of FSMA; and

(c) “regulated activity” has the meaning given in section 22 of FSMA M2 .

Marginal Citations

M1 S.I. 1989/2405 (N.I. 19). Schedule B1 was inserted by S.I. 2005/1455 (N.I. 10) and amended by S.R. 2006/370. There are other amendments not relevant to this Order.

M2 Section 22 was amended by section 7(1) of the Financial Services Act 2012.