Schedule 2, Part 2, paragraph 33(4)

In regulation 8 (in its application to those cases)— in paragraph (5)(c)(ii), for “appropriate regulator” substitute “ Bank of England ” and after “notice” insert “ and the appropriate regulator ”; in paragraph (6), omit sub-paragraph (a) (but continue to read “that” in sub-paragraph (b) as a reference to the insolvency procedure to which the notice relates); after paragraph (6) insert— Where the FCA receives notice under Condition 1, it must also inform the Bank of England of the contents of the notice. Where the Bank of England receives notice under paragraph (6A), it must, within the period in Condition 3, inform the person who gave the notice and the appropriate regulator whether or not it consents to the insolvency procedure to which the notice relates going ahead.

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