Sch 14 para 20
(1) Section 372 (bankruptcy petitions) is amended as follows. (2) In subsection (1), for “Authority” substitute “ FCA ” . (3) After that subsection insert— (1A) The PRA may present a petition to the court— (a) under section 264 of the 1986 Act (or Article 238 of the 1989 Order) for a bankruptcy order to be made against an individual who is a PRA-regulated person; (b) under section 5 of the 1985 Act for the sequestration of the estate of an individual who is a PRA-regulated person. (4) In subsection (2), for “such a petition may be presented” substitute “ a petition may be presented by virtue of subsection (1) or (1A) ” . (5) In subsection (4)(a)— (a) for “the Authority”, in the first place, substitute “ a regulator ” , and (b) for “the Authority”, in the second place, substitute “ that regulator ” . (6) In subsection (6)— (a) after “(1)(b)” insert “ or (1A)(b) ” , and (b) in paragraph (a), for “the Authority” substitute “ the regulator by which the petition is presented ” .