SCHEDULES

SCHEDULE 14Amendments of Part 24 of FSMA 2000: insolvency

I15

1

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

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 ”.