# Financial Services Act 2012, Paragraph 22


(1) Section 374 (Authority's powers to participate in proceedings: bankruptcy) is amended as follows.
(2) In subsection (1), omit “other than the Authority”.
(3) In subsections (2) to (4), for “Authority” substitute “ appropriate regulator ”.
(4) After subsection (6) insert—
“(7) The appropriate regulator” means—
(a) for the purposes of subsections (2) and (3)—
(i) where the individual or entity is a PRA-regulated person, each of the FCA and the PRA, and
(ii) in any other case, the FCA;
(b) for the purposes of subsection (4)—
(i) where the individual or entity is a PRA-regulated person, the FCA or the PRA, and
(ii) in any other case, the FCA.
(8) But where the petition was presented by a regulator “the appropriate regulator” does not include the regulator which presented the petition.”
(5) In the heading, for “Authority's powers” substitute “ Powers of FCA or PRA ”.

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/14/paragraph/22 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-14/paragraph-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.