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68.—(1) In relation to—
(a)an application under section 272 of the 2000 Act relating to a stand-alone scheme that is a recognised scheme by virtue of regulation 62, or
(b)an application under that section relating to the umbrella scheme of one or more sub-funds that are recognised schemes by virtue of that regulation, whether or not relating to those sub-funds,
sections 274(1) and 275 of the 2000 Act are subject to paragraphs (2) and (3).
(2) The FCA may direct that the application must be made during a period specified in the direction.
(3) Subsections (1) and (2) of section 275 of the 2000 Act do not apply in relation to the application, but the application must be determined by the FCA before the end of the period for the time being specified in regulation 62(3)(d).
Section 274 was amended by Schedule 18 to the Financial Services Act 2012.
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