Section 365 Powers of FCA and PRA to participate in proceedings.F9C1C2

This section applies in relation to a company which—

The F2appropriate regulator may apply to the court under section 112 of the 1986 Act (or Article 98 of the 1989 Order) in respect of the company.

The appropriate regulator is entitled to be heard at any hearing of the court in relation to the voluntary winding up of the company.

Any notice or other document required to be sent to a creditor of the company must also be sent to the appropriate regulator.

A person appointed for the purpose by the appropriate regulator is entitled—

The appropriate regulator or a person appointed by the appropriate regulator is entitled to participate in (but not vote in) a qualifying decision procedure by which a decision about any matter is sought from the creditors of the company.

The voluntary winding up of the company does not bar the right of the appropriate regulator to have it wound up by the court.

If, during the course of the winding up of the company, a compromise or arrangement F4in relation to which Part 26 of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under F5section 896 or 899 of F6that Act.

If, during the course of the winding up of the company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.

“The appropriate regulator” means—