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Financial Services and Markets Act 2000

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Changes over time for: Section 243A

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Financial Services and Markets Act 2000, Section 243A is up to date with all changes known to be in force on or before 22 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

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[F1243AAuthorisation orders: authorised money market fundsU.K.
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(1)If, on an application under section 242(1)(b) in respect of a unit trust scheme, conditions A and B are met the FCA may make an order declaring the scheme to be an authorised money market fund.

(2)Condition A is that the FCA is satisfied that the scheme will be able to comply with the requirements imposed on a money market fund under the MMF Regulation.

(3)Condition B is that—

(a)the scheme is an authorised unit trust scheme, or

(b)the scheme—

(i)is the subject of an application under section 242(1)(a), and

(ii)the conditions in section 243(1)(a) to (c) are met in relation to that application.

(4)If the FCA makes an order under subsection (1), it must give written notice of the order to the applicant.

(5)In this Chapter “authorisation order” means—

(a)an order under section 243(1), or

(b)an order under subsection (1) of this section.]

Textual Amendments

F1S. 243A inserted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(7)

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