Financial Services and Markets Act 2000 (c. 8)

Part XVII U.K. Collective Investment Schemes

[F1 CHAPTER 3A U.K. AUTHORISED CONTRACTUAL SCHEMES

Textual Amendments

F1 Pt. 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)

Powers of intervention U.K.

261Z3. Procedure: revocation of direction and grant of request for variation U.K.

(1) If the FCA decides on its own initiative to revoke a direction under section 261X it must give separate written notice of its decision to the operator and the depositary of the scheme.

(2) If on an application under section 261X(6) for a direction to be revoked or varied the FCA decides to revoke the direction or vary it in accordance with the application, it must give the applicant written notice of its decision.

(3) A notice under this section must specify the date on which the decision takes effect.

(4) The FCA may publish such information about the revocation or variation, in such way, as it considers appropriate.]