Source: http://www.legislation.gov.uk/ukpga/2000/8/section/373
Timestamp: 2019-08-24 17:09:49
Document Index: 708238747

Matched Legal Cases: ['art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 1']

Part XXIV
373 Insolvency practitioner’s duty to report [F1to FCA and PRA].U.K.
(a)a bankruptcy order or sequestration award is in force in relation to an individual F2..., and
(b)it appears to the insolvency practitioner that the individual is carrying on, or has [F3carried on—
(i)a regulated activity in contravention of the general prohibition, or
(ii)a credit-related regulated activity in contravention of section 20,]
the insolvency practitioner must report the matter [F4without delay to the FCA and, if the regulated activity concerned is a PRA-regulated activity, to the PRA].
[F5(1A)Subsection (1) does not apply where—
(a)the bankruptcy order or sequestration award is in force by virtue of a petition presented by a regulator, and
(b)the regulator's petition depended on a contravention by the individual of the general prohibition.]
(2)“Bankruptcy order” means a bankruptcy order under Part IX of the 1986 Act (or Part IX of the 1989 Order).
(3)“Sequestration award” means an award of sequestration under section [F622 of the 2016] Act.
(4)“Individual” includes an entity mentioned in section 374(1)(c).
F1Words in s. 373 heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 14 para. 21(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Words in s. 373(1)(a) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 14 para. 21(2)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3Words in s. 373(1)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 14 para. 21(2)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Words in s. 373(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 14 para. 21(2)(c) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5S. 373(1A) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 14 para. 21(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F6Words in s. 373(3) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 20(7)