{
  "url": "https://openlegislation.uk/financial-services-act-2012/schedule-14/paragraph-23",
  "json_url": "https://openlegislation.uk/financial-services-act-2012/schedule-14/paragraph-23.json",
  "legislation": "ukpga/2012/21",
  "legislation_title": "Financial Services Act 2012",
  "legislation_url": "https://openlegislation.uk/financial-services-act-2012",
  "path": "schedule/14/paragraph/23",
  "kind": "paragraph",
  "number": "23",
  "heading": null,
  "text": "(1) Section 375 (Authority's right to apply for an order relating to debt avoidance) is amended as follows.\n(2) In subsection (1), for “Authority” substitute “ FCA ”.\n(3) After subsection (1) insert—\n“(1A) The PRA may apply for an order under section 423 of the 1986 Act (or Article 367 of the 1989 Order) in relation to a debtor if—\n(a) at the time the transaction at an undervalue was entered into, the debtor was carrying on a PRA-regulated activity (whether or not in contravention of the general prohibition); and\n(b) a victim of the transaction is or was party to an agreement entered into with the debtor, the making or performance of which constituted or was part of a PRA-regulated activity carried on by the debtor.”\n(4) In subsection (2), after “subsection (1)(b)” insert “ or subsection (1A)(b) (as the case may be) ”.\n(5) In the heading, for “Authority's right” substitute “ Right of FCA and PRA ”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 14 para. 23 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/21/schedule/14/paragraph/23",
    "retrieved_at": "2026-10-29T09:08:36.918830+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}