(1) The FCA may, on the application of a non-authorised parent undertaking of an FCA investment firm -
(a) impose a requirement on the parent undertaking,
(b) vary a requirement imposed on the parent undertaking under this section, or
(c) cancel such a requirement.
(2) The FCA may exercise its power under subsection (3) in relation to a non-authorised parent undertaking of an FCA investment firm if it appears to the FCA that -
(a) it is necessary or expedient to do so in order to manage risks specified in or under section 143D(2), and
(b) it is desirable to do so in order to advance one or more of its operational objectives.
(3) The FCA's power under this subsection is a power -
(a) to impose a requirement,
(b) to vary a requirement imposed under this section, or
(c) to cancel such a requirement.
(4) The FCA may refuse an application under subsection (1) if it appears to the FCA that it is desirable to do so in order to advance one or more of the FCA's operational objectives.
(5) A req
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