SCHEDULES

SCHEDULE 14U.K.Amendments of Part 24 of FSMA 2000: insolvency

5(1)Section 358 (powers to participate in proceedings: trust deeds for creditors in Scotland) is amended as follows.U.K.

(2)In subsections (1), (2) and (6), after “authorised person” insert “ or recognised investment exchange ”.

(3)In subsections (2) to (4), for “Authority” substitute “ appropriate regulator ”.

(4)In subsection (5)—

(a)for “the Authority”, in the first place, substitute “ the appropriate regulator ”, and

(b)for “the Authority”, in the second place, substitute “ that regulator ”.

(5)In subsection (6), for “the Authority” substitute “ a regulator ”.

(6)After subsection (6) insert—

(6A)The appropriate regulator” means—

(a)in the case of a PRA-authorised person—

(i)for the purposes of subsections (2), (3) and (4), each of the FCA and the PRA, and

(ii)for the purposes of subsection (5), the FCA or the PRA;

(b)in any other case, the FCA.

(7)In the heading, for “Authority's powers” substitute “ Powers of FCA and PRA ”.