SCHEDULE 2Amendments of subordinate legislation

The Insolvency Rules 1986

5.—(1) The Insolvency Rules 1986(1) are amended as follows.

(2) In rule 0.2(1) (construction and interpretation), insert in the appropriate places—

““the FCA” means the Financial Conduct Authority;

“the PRA” means the Prudential Regulation Authority;”.

(3) In rule 4.1(1)(b) (voluntary winding up; winding up by the court) for “Financial Services Authority” substitute “FCA, the PRA”.

(4) In rule 4.7(4)(e) (presentation and filing of petition), for “Financial Services Authority, one copy to be sent to the Authority” substitute “the FCA or the PRA, one copy to be sent to each of the FCA and the PRA”.

(5) In rule 4.10(4) (other persons to receive copies of petition), for “Financial Services Authority. This does not apply if the petitioner is the Financial Services Authority itself.” substitute “the FCA and the PRA. This does not apply to the extent the petitioner is the FCA or the PRA.”.

(6) In rule 4.72 (additional provisions as regards certain meetings)—

(a)in paragraph (2), for “Financial Services Authority” substitute “FCA, the PRA”;

(b)in paragraphs (3), (4), (5) and (6) for “Authority” in each place substitute “FCA, the PRA”.

(7) In rule 4.152(7) (membership of committee) for “Financial Services Authority” substitute “FCA or the PRA”.