(a) a bankruptcy order or sequestration award is in force in relation to an individual . . ., and
(b) it appears to the insolvency practitioner that the individual 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 insolvency practitioner must report the matter [without delay to the FCA and, if the regulated activity concerned is a PRA-regulated activity, to the PRA].
[(1A) Subsection (1) does not apply where—
(a) the bankruptcy order or sequestration award is in force by virtue of
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