Article 58 Powers of FCA and PRA to participate in proceedings: insolvency

(1)

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

(a)

a report was sent to the Authority in accordance with section 374(3)^f1 (powers to participate in proceedings); and

(b)

the insolvency had not ended.

(2)

If the report relates to person who is, on the commencement date, a PRA-authorised person, 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 374 is amended by the 2012 Act, Schedule 14, paragraph 22.