365 [Powers of FCA and PRA] to participate in proceedings
365 [Powers of FCA and PRA] to participate in proceedings

(1)     This section applies in relation to a company which—

(a)     is being wound up voluntarily;

(b)     is an authorised person [or recognised investment exchange]; and

(c)     is not an insurer effecting or carrying out contracts of long-term insurance.

(2)     The [appropriate regulator] may apply to the court under section 112 of the 1986 Act (or Article 98 of the 1989 Order) in respect of the company.

(3)     The [appropriate regulator] is entitled to be heard at any hearing of the court in relation to the voluntary winding up of the company.