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 ”.
Commencement Information
I1Sch. 14 para. 5 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.