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
”
.