Part III Authorisation and Exemption
Ending of authorisation
33 Withdrawal of authorisation F1....
(1)
This section applies if—
(a)
an authorised person’s F2Part 4A permission is cancelled; and
(b)
as a result, there is no regulated activity for which he has permission.
(2)
The F3appropriate regulator must give a direction withdrawing that person’s status as an authorised person.
F4(2A)
In subsection (2) “the appropriate regulator” means—
(a)
in the case of a PRA-authorised person, the PRA, and
(b)
in any other case, the FCA.
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having its EEA authorisation withdrawn; or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.
(2)
At the request of an EEA firm, F5the appropriate regulator may give a direction cancelling its authorisation under Part II of Schedule 3.
F6(2A)
In subsection (2) “the appropriate regulator” means—
(a)
in the case of a PRA-authorised person, the PRA, and
(b)
in any other case, the FCA.
(3)
If an EEA firm has a F7Part 4A 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A Treaty firm ceases to qualify for authorisation under Schedule 4 if its home State authorisation is withdrawn.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, F8the appropriate regulator may give a direction cancelling its Schedule 4 authorisation.
F9(2A)
In subsection (2) “the appropriate regulator” means—
(a)
in the case of a PRA-authorised person, the PRA, and
(b)
in any other case, the FCA.
(3)
If a Treaty firm has a F10Part 4A 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 F11FCA 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 F12Part 4A permission, he does not cease to be an authorised person merely because he ceases to be a person so authorised.