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Financial Services (Banking Reform) Act 2013

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Changes over time for: Section 25

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Point in time view as at 01/12/2020.

Changes to legislation:

Financial Services (Banking Reform) Act 2013, Section 25 is up to date with all changes known to be in force on or before 06 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

25Duty to notify regulator of grounds for withdrawal of approvalU.K.

This section has no associated Explanatory Notes

In section 63 of FSMA 2000 (withdrawal of approval), after subsection (2) insert—

(2A)At least once a year each relevant authorised person must, in relation to every person in relation to whom an approval has been given on the application of the authorised person—

(a)consider whether there are any grounds on which a regulator could withdraw the approval under this section, and

(b)if the authorised person is of the opinion that there are such grounds, notify the regulator of those grounds.

(For the meaning of “relevant authorised person”, see section 71A.)

Commencement Information

I1S. 25 in force at 7.3.2016 by S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

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