[361 Administrator's duty to report to [FCA] and PRA]
[361 Administrator's duty to report to [FCA] and PRA]

[(1)     This section applies where a company or partnership is—

(a)     in administration within the meaning of Schedule B1 to the 1986 Act, or

[(b)     in administration within the meaning of Schedule B1 to the 1989 Order].

[(2)     If the administrator thinks that the company or partnership is carrying on, or has carried on—

(a)     a regulated activity in contravention of the general prohibition, or

(b)     a credit-related regulated activity in contravention of section 20,

the administrator must report the matter to the appropriate regulator without delay.]

[(2A)     “The appropriate regulator” means—

(a)     where the regulated activity is a PRA-regulated activity, the FCA and the PRA;

(b)     in any other case, the FCA.]

[(3)     Subsection (2) does not apply where—