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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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328. Directions in relation to the general prohibition

(1) The FCA may direct that section 327(1) is not to apply to the extent specified in the direction.

(2) A direction under subsection (1) -

(a) must be in writing;

(b) may be given in relation to different classes of person or different descriptions of regulated activity.

(3) A direction under subsection (1) must be published in the way appearing to the FCA to be best calculated to bring it to the attention of the public.

(4) The FCA may charge a reasonable fee for providing a person with a copy of the direction.

(5) The FCA must, without delay, give the Treasury a copy of any direction which it gives under this section.

(6) The FCA may exercise the power conferred by subsection (1) only if it is satisfied  -

(a) that it is desirable to do so in order to protect the interests of clients;

(b) [deleted]

(7) In considering whether it is satisfied of the matter specified in subsection (6)(a), the FCA must have regard amongst other things to the effectiveness of any arrangements made by an

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