Paragraph 66 I1

Section 162 (duty to report on completion of default proceedings) is amended as follows.

In subsections (1) and (1A), for “Authority” substitute “ appropriate regulator ”.

In subsection (4), for “Authority” substitute “ appropriate regulator ”.

At the end insert—

“(7)

The appropriate regulator”—

(a)

in relation to a recognised investment exchange or a recognised overseas investment exchange, means the FCA, and

(b)

in relation to a recognised clearing house or a recognised overseas clearing house, means the Bank of England.”