Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 23 February 2022 - onwards
    Version 1 of 1    

271P. Obligations on operator where recognition is revoked or suspended

(1) This section applies where -

(a) the FCA gives a decision notice under section 271N(3), or a written notice under section 271O(2), in relation to a section 271A scheme, or

(b) a direction given by the FCA under section 271L(1) in relation to a section 271A scheme takes effect.

(2) The operator of the scheme must notify such persons as the FCA may direct that the FCA has revoked an order under section 271A for recognition of the scheme or given a direction under section 271L in relation to the scheme (as applicable).

(3) A notification under subsection (2) that relates to a direction under section 271L must set out the terms of the direction.

(4) A notification under subsection (2) must -

(a) contain such information as the FCA may direct, and

(b) be made in such form and manner as the FCA may direct.

(5) Different directions may be given under subsection (2) or (4) in relation to -

(a) different schemes or different descriptions of scheme;

(b) different persons or descriptions of p

Comparing proposed amendment...