19(1)Section 371 (power to participate in proceedings: winding up by the court) is amended as follows.U.K.
(2)In subsection (1)—
(a)omit “other than the Authority”, and
(b)in paragraph (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), (3) and (5)—
(i)where the body 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 body is a PRA-regulated person, the FCA or the PRA, and
(ii)in any other case, the FCA.
(7)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 and PRA ”.
Commencement Information
I1Sch. 14 para. 19 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.