- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018
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Rhagor o Adnoddau
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Point in time view as at 01/03/2019.
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The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018, Section 55 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.
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[F1Variation and cancellation of an exemption under regulation 47U.K.
This
adran has no associated
Memorandwm Esboniadol
55.—(1) In respect of a person to whom regulation 47 applies, a regulator may—
(a)remove a regulated activity from those in respect of which the exemption has effect,
(b)cancel the exemption and direct that regulation 28 is to apply to the person, or
(c)cancel the exemption.
(2) A regulator may only exercise the power in paragraph (1)(a) or (c), if it considers that the exercise of the power is necessary—
(a)for the prevention, detection, investigation or prosecution of a criminal offence;
(b)for the protection of consumers;
(c)in order for the regulator to advance its objectives under Part 1A of the 2000 Act.
(3) In exercising the power in paragraph (1)(b), the regulator must take into account—
(a)the person’s conduct,
(b)the practicality of supervision by a regulator,
(c)the size of the person’s undertaking, and
(d)the nature or extent of the regulated activity the person carries on.
(4) Before exercising the power in paragraph (1)—
(a)the PRA must consult the FCA;
(b)the FCA must consult the PRA if, were the person to be an authorised person (within the meaning of section 31 of the 2000 Act), the person to whom regulation 47 applies would be carrying on one or more PRA-regulated activities (within the meaning of section 22A of the 2000 Act).]
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