[359 Administration order]
[359 Administration order]

[(1)     The [FCA] may make an administration application under Schedule B1 to the 1986 Act [or Schedule B1 to the 1989 Order] in relation to a company or insolvent partnership which—

(a)     is or has been an authorised person [or recognised investment exchange],

(b)     is or has been an appointed representative, or

(c)     is carrying on or has carried on a regulated activity in contravention of the general prohibition.

[(1A)     The PRA may make an administration application under Schedule B1 to the 1986 Act or Schedule B1 to the 1989 Order in relation to a company or insolvent partnership which is a PRA-regulated person.]

(2)     Subsection (3) applies in relation to an administration application made (or a petition presented) by [a regulator] by virtue of this section.