[Part 2A Reclaim Fund Business Transfer Schemes]


[(1)]     For the purposes of section 111(2) the appropriate certificate, in relation to a reclaim fund business transfer scheme, is a certificate given by the [relevant regulator] certifying that, taking the proposed transfer into account, the transferee possesses, or will possess before the scheme takes effect, adequate financial resources.

[(2)     In this paragraph the “relevant regulator” means—

(a)     if the transferee is a PRA-authorised person, the PRA;

(b)     in any other case, the FCA.]]

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