(1) This section applies if -
(a) an authorised person's Part 4A permission is cancelled; and
(b) as a result, there is no regulated activity for which he has permission.
(2) The appropriate regulator must give a direction withdrawing that person's status as an authorised person.
(2A) In subsection (2) "the appropriate regulator" meansĀ -
(a) in the case of a PRA-authorised person, the PRA, and