Financial Services and Markets Act 2000 (c. 8)

[F1 PART 9C U.K. Prudential regulation of FCA investment firms

Textual Amendments

F1 Pt. 9C inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 2 para. 1; S.I. 2021/671, reg. 4(b)

Imposition of requirements on non-authorised parent undertakings U.K.

143M Determination of applications under section 143K U.K.

(1) The FCA must determine an application under section 143K(1)—

(a) if the application is complete, before the end of the period of six months beginning with the day on which the FCA received the application, or

(b) if the application is incomplete, before the end of the period of 12 months beginning with the day on which the FCA received the application.

(2) The applicant may withdraw the application, by giving the FCA a written notice, at any time before the FCA determines it.

(3) If the FCA grants an application under section 143K(1), it must give the applicant a written notice.

(4) The notice must state the date from which the requirement or variation has effect.]