Section 284A(4)

Regulations under subsection (3) may (amongst other things) make provision— for the incorporation and registration in the United Kingdom of bodies corporate; for a body incorporated by virtue of the regulations to take such form and name as may be determined in accordance with the regulations; as to the purposes for which such a body may exist and the investments which it may issue; as to the constitution, ownership, management and operation of such a body; for such a body to comprise different parts; for such parts to have legal personality distinct from that of the body; as to the holding and management of the assets and liabilities of such a body, including provision for the segregation of assets and liabilities relating to different risks; as to the powers, duties, rights and liabilities of such a body and of other persons, including— its directors and other officers; its shareholders, and persons who hold the beneficial title to shares in it without holding the legal title; its auditor; any persons holding assets for it; any persons who act or purport to act on its behalf; as to the merger of one or more such bodies and the division of such a body; for the appointment and removal of an auditor for such a body; as to the winding up and dissolution of such a body; enabling the FCA or the PRA to apply to a court for an order removing or replacing any director of, or person holding assets for, such a body; for the carrying out of investigations by persons appointed by the FCA or the PRA.

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