Article 46 Administrator’s duty to report to FCA and PRA

(1)

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

(a)

an administrator made a report to the Authority in accordance with section 361(2)^f1 (administrator’s duty to report); and

(b)

the administration had not ended.

(2)

If the report relates to a regulated activity which is, on the commencement date, a PRA-regulated activity, the report is to be treated as if it had been made to the PRA (as well as to the FCA).

Annotations

Footnotes

f1: Section 361(2) was substituted by the Enterprise Act 2002 (c.40), Schedule 17, paragraph 56 and is amended by the 2012 Act, Schedule 14, paragraph 7.