# Financial Services Act 2012, Paragraph 16


(1) Section 369 (insurers: service of petition etc. on Authority) is amended as follows.
(2) In subsection (1)—
(a) for “the Authority” substitute “ a regulator ”, and
(b) for “on the Authority” substitute “ on the appropriate regulator ”.
(3) In subsection (2)—
(a) for “the Authority” substitute “ a regulator ”, and
(b) for “on the Authority” substitute “ on the appropriate regulator ”.
(4) After that subsection insert—
“(3) The appropriate regulator” means—
(a) in relation to a PRA-authorised person, the FCA and the PRA, and
(b) in any other case, the FCA.
(4) If either regulator—
(a) presents a petition for the winding up of a PRA-authorised person with permission to effect or carry out contracts of insurance, or
(b) applies to have a provisional liquidator appointed under section 135 of the 1986 Act (or Article 115 of the 1989 Order) in respect of a PRA-authorised person with permission to effect or carry out contracts of insurance,
that regulator must serve a copy of the petition or application (as the case requires) on the other regulator.”
(5) In the heading, for “Authority” substitute “ FCA and PRA ”.

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/14/paragraph/16 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-14/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.