Part III Authorisation and Exemption

Ending of authorisation

33 Withdrawal of authorisation by the Authority.

1

This section applies if—

a

an authorised person’s Part IV permission is cancelled; and

b

as a result, there is no regulated activity for which he has permission.

2

The Authority must give a direction withdrawing that person’s status as an authorised person.

34EEA firms.

1

An EEA firm ceases to qualify for authorisation under Part II of Schedule 3 if it ceases to be an EEA firm as a result of—

a

having its EEA authorisation withdrawn; or

b

ceasing to have an EEA right in circumstances in which EEA authorisation is not required.

C12

At the request of an EEA firm, the Authority may give a direction cancelling its authorisation under Part II of Schedule 3.

3

If an EEA firm has a Part IV permission, it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Part II of Schedule 3.

35 Treaty firms.

1

A Treaty firm ceases to qualify for authorisation under Schedule 4 if its home State authorisation is withdrawn.

2

At the request of a Treaty firm, the Authority may give a direction cancelling its Schedule 4 authorisation.

3

If a Treaty firm has a Part IV permission, it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Schedule 4.

36 Persons authorised as a result of paragraph 1(1) of Schedule 5.

1

At the request of a person authorised as a result of paragraph 1(1) of Schedule 5, the Authority may give a direction cancelling his authorisation as such a person.

2

If a person authorised as a result of paragraph 1(1) of Schedule 5 has a Part IV permission, he does not cease to be an authorised person merely because he ceases to be a person so authorised.