Paragraph 3 I1

Section 109 (scheme reports) is amended as follows.

For “Authority”, in each place, substitute “ appropriate regulator ”.

After subsection (3) insert—

“(4)

Where the appropriate regulator is the PRA, it must consult the FCA before—

(a)

nominating or approving a person under subsection (2)(b), or

(b)

approving a form under subsection (3).

(5)

Subsection (6) applies where the appropriate regulator is the FCA and either—

(a)

the transferee is a PRA-authorised person, or

(b)

the authorised person concerned or the transferee has as a member of its immediate group a PRA-authorised person.

(6)

The FCA must consult the PRA before—

(a)

nominating or approving a person under subsection (2)(b), or

(b)

approving a form under subsection (3).”