Article 6 Application of section 356 of FSMA

(1)

Section 356 of FSMA (powers of FCA and PRA to participate in proceedings: company voluntary arrangements) M1 applies in relation to a relevant society—

(a)

which is an authorised person; and

(b)

in relation to which a voluntary arrangement has effect under Part 1 of the 1986 Act.

(2)

For that purpose—

(a)

in subsection (1) the reference to a company includes a reference to a relevant society; and

(b)

in subsection (3) the reference to an application to the court in relation to the company is a reference to an application to the court under section 6 M2 or 7 M3 of the 1986 Act in relation to a relevant society of the kind described in paragraph (1).

Annotations

Marginal citations

M1: Section 356 was amended by the Insolvency Act 2000 (c.39), section 15(3), and by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 3.
M2: Section 6 was amended by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 7, and by the Enterprise Act 2002, Schedule 17, paragraphs 9 and 12. There are other amendments not relevant to this Order.
M3: Section 7 was amended by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 9.

Notes on the whole SI

Textual amendments

F1: Title amended (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 33