# The Financial Services Act 2012 (Mutual Societies) Order 2013, Paragraph 15


(1) Section 23 (conversion of company into credit union) is amended as follows.
(2) In subsection (3)—
(a) in the opening words, for “Authority” substitute “FCA”; and
(b) in paragraph (b), omit “made by the Authority under the 2000 Act”.
(3) After subsection (3), insert—
“(4) In subsection (3), “applicable rules” are—
(a) if the credit union is a PRA-authorised person, rules made by the PRA or the FCA under the 2000 Act; and
(b) if the credit union is not a PRA-authorised person, rules made by the FCA under the 2000 Act.”.

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Source: https://www.legislation.gov.uk/ukdsi/2013/9780111533772/schedule/6/paragraph/15 (the official version)
Page: https://openlegislation.uk/draft-financial-services-act-2012-mutual-societies-order-2013/schedule-6/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.