357 [Powers of FCA and PRA] to participate in proceedings: individual voluntary arrangements
357 [Powers of FCA and PRA] to participate in proceedings: individual voluntary arrangements

(1)     The [appropriate regulator] is entitled to be heard on an application by an individual who is an authorised person under section 253 of the 1986 Act (or Article 227 of the 1989 Order).

(2)     Subsections [(2A)] to (6) apply if such an order is made on the application of such a person.

[(2A)     Where under section 257 of the 1986 Act the individual's creditors are asked to decide whether to approve the proposed voluntary arrangement—

(a)     notice of the creditors' decision procedure must be given to the appropriate regulator; and