{
  "url": "https://openlegislation.uk/financial-services-act-2012/schedule-14/paragraph-24",
  "json_url": "https://openlegislation.uk/financial-services-act-2012/schedule-14/paragraph-24.json",
  "legislation": "ukpga/2012/21",
  "legislation_title": "Financial Services Act 2012",
  "legislation_url": "https://openlegislation.uk/financial-services-act-2012",
  "path": "schedule/14/paragraph/24",
  "kind": "paragraph",
  "number": "24",
  "heading": null,
  "text": "(1) Section 376 (continuation of contracts of long-term insurance where insurer in liquidation) is amended as follows.\n(2) In subsection (11)(c), for “Authority” substitute “ PRA ”.\n(3) After subsection (11) insert—\n“(11A) The PRA must—\n(a) consult the FCA before making an application under subsection (10), and\n(b) provide the FCA with a copy of any actuary's report made to the PRA under that subsection.\n(11B) In the event that the activity of effecting or carrying out long-term contracts of insurance as principal is not to any extent a PRA-authorised activity—\n(a) the reference in subsection (11)(c) to the PRA is to be read as a reference to the FCA, and\n(b) subsection (11A) does not apply.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 14 para. 24 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/24",
    "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."
}