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Changes over time for: Section 199A
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Version Superseded: 31/12/2020
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Point in time view as at 10/06/2019. This version of this provision has been superseded.
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Changes to legislation:
Financial Services and Markets Act 2000, Section 199A is up to date with all changes known to be in force on or before 24 February 2025. 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.
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[199AManagement companies: loss of authorisationU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)This section applies in relation to an EEA firm falling within paragraph 5(f) of Schedule 3 (“a management company”) which is providing services in the United Kingdom in the exercise of an EEA right deriving from the UCITS directive.
(2)If the [appropriate regulator] has been informed by the home state regulator of the management company that it is withdrawing the management company's authorisation, the [appropriate regulator] must exercise its powers under this Act in such manner as it thinks fit to safeguard the interests of investors in a collective investment scheme managed by the management company in the United Kingdom.
(3)Measures taken under subsection (2) may include decisions preventing the management company from initiating any further transactions in the United Kingdom.
[(4)In this section—
“the appropriate regulator” means whichever of the FCA and the PRA is the competent authority for the purposes of the UCITS directive;
“collective investment scheme” has the same meaning as in Part 17.]]
Textual Amendments
Modifications etc. (not altering text)
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