SCHEDULES
SCHEDULE 3Provision for certain pre-commencement societies
Part 9: winding up of societies registered before 26 July 1938
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1
The FCA or PRA (“the authority”) may present a petition to the court for the winding up of a registered society that was registered or treated as registered under the 1893 Act before 26 July 1938 if it appears to the authority—
a
that it meets neither of the conditions in section 2(2)(a), and
b
that the winding up of the society would be in the interests of persons who have invested or deposited money with the society or any other person.
2
The FCA must consult the PRA before presenting a petition in respect of a PRA-authorised person.
3
The PRA must consult the FCA before presenting a petition.