SCHEDULES
SCHEDULE 6Control of business transfers
3
1
Section 109 (scheme reports) is amended as follows.
2
For “Authority”, in each place, substitute “appropriate regulator”.
3
After subsection (3) insert—
4
Where the appropriate regulator is the PRA, it must consult the FCA before—
a
nominating or approving a person under subsection (2)(b), or
b
approving a form under subsection (3).
5
Subsection (6) applies where the appropriate regulator is the FCA and either—
a
the transferee is a PRA-authorised person, or
b
the authorised person concerned or the transferee has as a member of its immediate group a PRA-authorised person.
6
The FCA must consult the PRA before—
a
nominating or approving a person under subsection (2)(b), or
b
approving a form under subsection (3).