(a) a company is being wound up voluntarily or a body is being wound up on a petition presented by any person, and
(b) it appears to the liquidator that the company or body is carrying on, or has carried on—
(i) a regulated activity in contravention of the general prohibition, or
(ii) a credit-related regulated activity in contravention of section 20,
the liquidator must report the matter without delay to the FCA and, if the regulated activity concerned is a PRA-regulated activity, to the PRA.
(2) Subsection (1) does not apply where—
(a) a body is being wound up
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