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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 April 2013 - onwards
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Schedule 12, Part IIA Reclaim fund business transfer schemes (para. 9A)

Certificate as to financial resources

9A.

 

(1) For the purposes of section 111(2) the appropriate certificate, in relation to a reclaim fund business transfer scheme, is a certificate given by the relevant regulator certifying that, taking the proposed transfer into account, the transferee possesses, or will possess before the scheme takes effect, adequate financial resources.

(2) In this paragraph the "relevant regulator" means -

(a) if the transferee is a PRA-authorised person, the PRA;

(b) in any other case, the FCA.

Comparing proposed amendment...