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Financial Services and Markets Act 2000
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Changes over time for: Section 261EA
Alternative versions:
- 28/06/2018- Amendment
- 21/07/2018- Amendment
- 31/12/2020
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Financial Services and Markets Act 2000, Section 261EA is up to date with all changes known to be in force on or before 25 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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[F1[F2261EAAuthorisation orders: authorised money market fundsU.K.
This section has no associated Explanatory Notes
(1)If, on an application under section 261C(1)(b) in respect of a contractual 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 contractual scheme, or
(b)the scheme—
(i)is the subject of an application under section 261C(1)(a), and
(ii)the conditions in section 261D(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 261D(1), or
(b)an order under subsection (1) of this section.]]
Textual Amendments
F1Pt. XVII Ch. 3A inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(12) (with reg. 24)
F2S. 261EA 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(13)
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