Textual Amendments
F1Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)
F2Pt. 3C 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), 4(3)
23G.—(1) An application for an AIF to be authorised as an MMF under Article 5 of the MMF Regulation must—
(a)be made in such a manner as the FCA may direct; and
(b)contain or be accompanied by such information as the FCA may reasonably require for the purpose of determining the application.
(2) At any time after receiving an application and before determining it, the FCA may require the applicant to provide it with such further information as it considers necessary to enable it to determine the application.
(3) Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.
(4) The FCA may require an applicant to provide information which it is required to give under paragraph (1)(b) or paragraph (2) in such form, or to verify it in such manner, as the FCA may specify.
23H.—(1) If the FCA proposes to refuse an application made in respect of an AIF for authorisation as an MMF under Article 5 of the MMF Regulation, it must give the applicant a warning notice.
(2) If the FCA decides to refuse an application—
(a)it must give the applicant a decision notice; and
(b)the applicant may refer the matter to the Tribunal.
23I.—(1) If the FCA proposes to revoke the authorisation of an MMF otherwise than by consent, the FCA must give separate warning notices to the AIFM and the depositary of the MMF.
(2) If the FCA decides to revoke the authorisation of an MMF otherwise than by consent—
(a)the FCA must give each of the AIFM and the depositary a decision notice; and
(b)either of them may refer the matter to the Tribunal.]]