Paragraph 170 The Building Society Special Administration (Scotland) Rules 2009I1

United Kingdom

In the Building Society Special Administration (Scotland) Rules 2009^f1—

(a)

in rule 4(1) (interpretation)—

(i)

after sub-paragraph (b), insert—

“(ba)
“the appropriate regulator” in relation to a building society means—

(i)
if the building society is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), the Prudential Regulation Authority and the Financial Conduct Authority;

(ii)
in any other case, the Financial Conduct Authority;”;

(ii)

in the definition of “principal office” in sub-paragraph (i), for “FSA” substitute “the Financial Conduct Authority”;

(iii)

in the definition of “registered name” in sub-paragraph (j), for “FSA” substitute “Financial Conduct Authority”;

(iv)

omit sub-paragraph (l)(ii);

(b)

in rule 13 (notification), for “Authority” substitute “Financial Conduct Authority and the Prudential Regulation Authority”;

(c)

in rule 15 (notice of order) for “four” substitute “four or, if the building society is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), five”;

(d)

in rule 16 (notice of order), for paragraph (b), substitute—

“(b)
one certified copy to the Financial Conduct Authority;

(ba)
if the building society is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), one certified copy to the Prudential Regulation Authority; and”;

(e)

in rule 40 (general modifications), in paragraph (l) for “FSA” substitute “Financial Conduct Authority”;

(f)

for “FSA”, in each other place it appears, substitute “appropriate regulator”.

Paragraph 170 The Building Society Special Administration (Scotland) Rules 2009I1

Annotations

Commencement

Footnotes