Paragraph 9A Certificate as to financial resourcesF1
United Kingdom
For the purposes of section 111(2) the appropriate certificate, in relation to a reclaim fund business transfer scheme, is a certificate given by the F3relevant regulator certifying that, taking the proposed transfer into account, the transferee possesses, or will possess before the scheme takes effect, adequate financial resources.
In this paragraph the “relevant regulator” means—
if the transferee is a PRA-authorised person, the PRA;
in any other case, the FCA.
Annotations
Textual amendments
- F1
Sch. 12 Pt. 2A inserted (12.3.2009) by Dormant Bank and Building Society Accounts Act 2008 (c. 31), ss. 15, 31(1)(2), Sch. 2 para. 5; S.I. 2009/490, art. 2 (with art. 3)
- F2
Sch. 12 para. 9A renumbered as Sch. 12 para. 9A(1) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 18(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F3
Words in Sch. 12 para. 9A(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 18(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F4
Sch. 12 para. 9A(2) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 18(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.