Paragraph 10

(1)

Section 56^f1 (power to petition for winding up) is amended as follows.

(2)

Number the existing provision as subsection (1).

(3)

In that subsection, for “Authority”—

(a)

in the first place, substitute “FCA or PRA”, and

(b)

in the second place, substitute “FCA or PRA (as the case may be)”.

(4)

After that subsection, insert—

“(2)
The FCA must consult the PRA before presenting a petition under subsection (1) in respect of a PRA-authorised person.

(3)
The PRA must consult the FCA before presenting a petition under subsection (1).”.

(5)

In the heading, for “registrar” substitute “FCA and PRA”.

Annotations

Footnotes

f1: Section 56 was amended by S.I. 2001/2617.