(1) If there is a material change to the information mentioned in regulation 54(2)(b), the AIFM must give written notice of the change to the FCA -
(a) in the case of a change planned by the AIFM ("planned change"), at least one month before implementing the change; or
(b) in other cases, as soon as reasonably practicable and, at the latest, immediately after an unplanned change has occurred.
(2) If a planned change would mean the AIFM no longer complied with an implementing provision applicable to it, the FCA must inform the AIFM without undue delay that it must not implement the change.
(3) If -
(a) a planned change is implemented, or
(b) an unplanned change takes place,
as a result of which the AIFM no longer complies with an implementing provision that applies to it, the FCA must take steps to ensure that the AIFM complies with that implementing provision or ceases to market the AIF.
(4) The FCA may use its powers under section 55J and 55L of the Act (variation or cancellation on i
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