PART 3Restrictions on Financial Services and Markets

Authorisations20

1

An authorisation granted by the Treasury under regulation 19(3) may be—

a

general or granted to a category of persons or to a particular person;

b

subject to conditions;

c

of indefinite duration or subject to an expiry date.

2

The Treasury may vary or revoke an authorisation at any time.

3

On the grant, variation or revocation of an authorisation, the Treasury must—

a

in the case of an authorisation granted to a particular person, give written notice of the grant, variation or revocation to that person,

b

in the case of a general authorisation or an authorisation granted to a category of persons, take such steps as the Treasury consider appropriate to publicise the grant, variation or revocation of the authorisation.

4

A person commits an offence who, for the purpose of obtaining an authorisation, knowingly or recklessly—

a

provides information that is false in a material respect, or

b

provides or produces a document that is not what it purports to be.

5

A person who purports to act under an authorisation granted by the Treasury but who fails to comply with any conditions included in the authorisation commits an offence.