Article 49 Powers of FCA and PRA to participate in proceedings (receivership)

(1)

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

(a)

a report was sent to the Authority in accordance with section 363(4)^f1 (powers to participate in proceedings); and

(b)

the receivership had not ended.

(2)

If the report relates to person who is, on the commencement date, a PRA-regulated person within the meaning of section 355, the report is to be treated as if it had been sent to the PRA (as well as to the FCA).

Annotations

Footnotes

f1: Section 363 is amended by the 2012 Act, Schedule 14, paragraph 10.