Section 363

This section applies if a receiver has been appointed in relation to a company which— is, or has been, an authorised person or recognised investment exchange; is, or has been, an appointed representative; or is carrying on, or has carried on, a regulated activity in contravention of the general prohibition. The appropriate regulator is entitled to be heard on an application made under section 35 or 63 of the 1986 Act (or Article 45 of the 1989 Order). The appropriate regulator is entitled to make an application under section 41(1)(a) or 69(1)(a) of the 1986 Act (or Article 51(1)(a) of the 1989 Order). A report under section 48(1) or 67(1) of the 1986 Act (or Article 58(1) of the 1989 Order) must be sent by the person making it to the appropriate regulator. A person appointed for the purpose by the appropriate regulator is entitled— to attend any meeting of creditors of the company summoned under any enactment; to attend any meeting of a committee established under section 49 or 68 of the 1986 Act (or Article 59 of the 1989 Order); and to make representations as to any matter for decision at such a meeting. "The appropriate regulator” means— for the purposes of subsections (2) to (4)— where the company is a PRA-regulated person, each of the FCA and the PRA, and in any other case, the FCA; for the purposes of subsection (5)— where the company is a PRA-regulated person, the FCA or the PRA, and in any other case, the FCA.

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