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Financial Services Act 2012

Financial Services Act 2012 Sch 14 para 10

Sch 14 para 10

(1) Section 363 (powers to participate in proceedings: receivership) is amended as follows. (2) In subsection (1)(a), after “authorised person” insert “ or recognised investment exchange ” . (3) In subsections (2) to (5), for “Authority” substitute “ appropriate regulator ” . (4) After subsection (5) insert— (6) The appropriate regulator” means— (a) for the purposes of subsections (2) to (4)— (i) where the company is a PRA-regulated person, each of the FCA and the PRA, and (ii) in any other case, the FCA; (b) for the purposes of subsection (5)— (i) where the company is a PRA-regulated person, the FCA or the PRA, and (ii) in any other case, the FCA. (5) In the heading, for “Authority's powers” substitute “ Powers of FCA and PRA ” .

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