18U.K.For section 370 substitute—
“370Liquidator's duty to report to FCA and PRA
(1)If—
(a)a company is being wound up voluntarily or a body is being wound up on a petition presented by any person, and
(b)it appears to the liquidator that the company or body is carrying on, or has carried on—
(i)a regulated activity in contravention of the general prohibition, or
(ii)a credit-related regulated activity in contravention of section 20,
the liquidator must report the matter without delay to the FCA and, if the regulated activity concerned is a PRA-regulated activity, to the PRA.
(2)Subsection (1) does not apply where—
(a)a body is being wound up on a petition presented by a regulator, and
(b)the regulator's petition depended on a contravention by the body of the general prohibition.”
Commencement Information
I1Sch. 14 para. 18 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.