Section 103
Bank to be party to proceedings
of Financial Services Act 2013
(1)
A person making an application to the High Court under subsection 102(2) in relation to a business transfer scheme shall—
(a)
deliver a copy of the application to the Bank;
(b)
give notice to the Bank of all proceedings relating to the application; and
(c)
give to the Bank a copy of any document relating to the proceedings, at the same time as the proceedings are instituted or the document is lodged, in the High Court or the document is served on a party to the proceedings.
(2)
The Bank shall be entitled to be heard in proceedings relating to the application under subsection (1).
(3)
Notwithstanding that the Bank has given its approval to a business transfer scheme under subsection 100(6), the Bank may propose any modification to the scheme.
Financial Services 117