PART 3 U.K. Small AIFMs

Modifications etc. (not altering text)

C1 Pt. 3 modified (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 11(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Procedure on revocation U.K.

18.—(1) If the FCA proposes to revoke the registration of a small registered UK AIFM on the grounds mentioned in regulation 17(1)(a) or (b) [F1 , or under Article 22 of the EuSEF Regulation or Article 21 of the EuVECA Regulation], the FCA must give the AIFM a warning notice.

(2) If the FCA decides to revoke the registration of a small registered UK AIFM on [F2 such grounds or under such an Article]—

(a) the FCA must give the AIFM a decision notice, and

(b) the AIFM may refer the matter to the Tribunal.

Textual Amendments

F1 Words in reg. 18(1) inserted (1.3.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(8)(a)

F2 Words in reg. 18(2) substituted (1.3.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(8)(b)