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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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199A. Management companies: loss of authorisation

Omitted from 31 December 2020

(1) This section applies in relation to an EEA firm falling within paragraph 5(f) of Schedule 3 ("a management company") which is providing services in the United Kingdom in the exercise of an EEA right deriving from the UCITS directive.

(2) If the appropriate regulator has been informed by the home state regulator of the management company that it is withdrawing the management company’s authorisation, the appropriate regulator must exercise its powers under this Act in such manner as it thinks fit to safeguard the interests of investors in a collective investment scheme managed by the management company in the United Kingdom.

(3) Measures taken under subsection (2) may include decisions preventing the management company from initiating any further transactions in the United Kingdom.

(4) In this section -

"the appropriate regulator" means whichever of the FCA and the PRA is the competent authority for the purposes of the UCITS directive;

"collective investment scheme" has the s

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