Schedule 12, Part 2A, paragraph 9A

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 relevant 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.

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Source: legislation.gov.uk · retrieved 2026-09-04