Financial Services Act 2012

15(1)Section 368 (winding-up petitions: EEA and Treaty firms) is amended as follows.U.K.

(2)The existing provision becomes subsection (1).

(3)In that subsection—

(a)for “The Authority” substitute “ A regulator ”, and

(b)after “it” insert “ or the other regulator ”.

(4)After that subsection insert—

“(2)If a regulator receives from the home state regulator of a body falling within subsection (1)(a) or (b) a request to present a petition to the court under section 367 for the winding up of the body, it must—

(a)notify the other regulator of the request, and

(b)provide the other regulator with such information relating to the request as it thinks fit.”