Section 103A Meaning of “the appropriate regulator”F1

United Kingdom

(1)

In this Part “the appropriate regulator” means—

(a)

in relation to F2a ring-fencing transfer scheme or a scheme (other than a ring-fencing transfer scheme) in respect of which F3the transferor concerned is a PRA-authorised person, the PRA;

(b)

in any other case, the FCA.

(2)

In this Part, “the transferor concerned”—

(a)

in the case of an insurance business transfer scheme, is to be read in accordance with section 105(2);

(b)

in the case of a banking business transfer scheme, is to be read in accordance with section 106(2);

(c)

in the case of a reclaim fund business transfer scheme, means the reclaim fund to whose business the scheme relates.

(F4d)

in the case of a ring-fencing transfer scheme, means the body to whose business the scheme relates.

Annotations

Textual amendments

F1: S. 103A inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 2 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2: Words in s. 103A(1)(a) substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 3(2); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F3: Words in Pt. 7 substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 2; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F4: S. 103A(2)(d) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 3(3); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Notes on Part VII

Modifications

C1: Pt. 7: power to amend conferred (1.9.2023) by Financial Services Act 2021 (c. 22), ss. 22(8)(a), 49(5); S.I. 2023/934, reg. 2(c)