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Financial Services and Markets Act 2023
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61(1)A licence in respect of anything transferred by a property transfer instrument continues to have effect despite the transfer.
(2)A property transfer instrument may disapply sub-paragraph (1) to a specified extent.
(3)Where a licence imposes rights or obligations, a property transfer instrument may apportion responsibility for exercise or compliance between transferor and transferee.
(4)In this paragraph “licence” includes permission and approval and any other permissive document in respect of anything transferred.
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