(1) On an application under section 107 relating to an insurance business transfer scheme, a banking business transfer scheme or a reclaim fund business transfer scheme, the following are also entitled to be heard -
(a) the FCA,
(aa) in the case of a scheme falling within subsection (2), the PRA, and
(b) any person (including an employee of the transferor concerned or of the transferee) who alleges that he would be adversely affected by the carrying out of the scheme.
(2) A scheme falls within this subsection if -
(a) the transferor concerned or the transferee is a PRA-authorised person, or
(b) the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.
(3) Subsections (4) and (5) apply where an application under section 107 relates to a ring-fencing transfer scheme.
(4) The following are also entitled to be heard -
(a) the PRA,
(b) where the transferee is an authorised person, the FCA, and
(c) any person ("P") (including an employee of th
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