Sch 12 para 9A Certificate as to financial resources
(1) For the purposes of section 111(2) the appropriate certificate, in relation to a reclaim fund business transfer scheme, is a certificate given by the relevant regulator certifying that, taking the proposed transfer into account, the transferee possesses, or will possess before the scheme takes effect, adequate financial resources. (2) In this paragraph the “ relevant regulator ” means— (a) if the transferee is a PRA-authorised person, the PRA; (b) in any other case, the FCA.