If—
a company is being wound up voluntarily or a body is being wound up on a petition presented by any person, and
it appears to the liquidator that the company or body is carrying on, or has carried on—
a regulated activity in contravention of the general prohibition, or
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.
Subsection (1) does not apply where—
a body is being wound up on a petition presented by a regulator, and
the regulator's petition depended on a contravention by the body of the general prohibition.