Sch 14 para 22
(1) Section 374 (Authority's powers to participate in proceedings: bankruptcy) is amended as follows. (2) In subsection (1), omit “other than the Authority”. (3) In subsections (2) to (4), for “Authority” substitute “ appropriate regulator ” . (4) After subsection (6) insert— (7) The appropriate regulator” means— (a) for the purposes of subsections (2) and (3)— (i) where the individual or entity 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 (4)— (i) where the individual or entity is a PRA-regulated person, the FCA or the PRA, and (ii) in any other case, the FCA. (8) But where the petition was presented by a regulator “ the appropriate regulator ” does not include the regulator which presented the petition. (5) In the heading, for “Authority's powers” substitute “ Powers of FCA or PRA ” .