Paragraph 10

Section 22^f1 (winding up by court: grounds and petitioners) is amended as follows.

In subsection (2), for “(3) below” insert “(2A), (2B) or (3)”.

In paragraph (a) of subsection (2), for “Authority” substitute “FCA”.

After paragraph (a) of subsection (2), insert—

“(aa)

the PRA;”.

After subsection (2), insert—

“(2A)

The FCA may only present a petition under subsection (2) in respect of a society which is a PRA-authorised person after consulting the PRA.

(2B)

The PRA may only present a petition under subsection (2)—

(a)

in respect of a society which is a PRA-authorised person; and

(b)

after consulting the FCA.”.