Article 45 Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland

(1)

Paragraph (2) applies if, before the commencement date—

(a)

a trust deed had been granted by or on behalf of a debtor who is, on the commencement date, a PRA-authorised person;

(b)

the trustee had sent to the Authority—

(i)

a copy of the trust deed, or any other document or information in accordance with section 358(2)^f1 (powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland), or

(ii)

notice of a meeting of creditors in accordance with section 358(4); and

(c)

the trust deed had not ceased to have effect.

(2)

The copy of the trust deed, other document, information or notice is to be treated as if it had been sent to the PRA (as well as to the FCA).

Annotations

Footnotes

f1: Section 358 is amended by the 2012 Act, Schedule 14, paragraph 5.