Part III Authorisation and Exemption
Ending of authorisation
33 Withdrawal of authorisation F7....
1
This section applies if—
a
an authorised person’s F9Part 4A permission is cancelled; and
b
as a result, there is no regulated activity for which he has permission.
2
The F10appropriate regulator must give a direction withdrawing that person’s status as an authorised person.
F82A
In subsection (2) “the appropriate regulator” means—
a
in the case of a PRA-authorised person, the PRA, and
b
in any other case, the FCA.
34EEA firms.
1
An EEA firm ceases to qualify for authorisation under Part II of Schedule 3 if it ceases to be an EEA firm as a result of—
a
having its EEA authorisation withdrawn; or
b
ceasing to have an EEA right in circumstances in which EEA authorisation is not required.
C12
At the request of an EEA firm, F1the appropriate regulator may give a direction cancelling its authorisation under Part II of Schedule 3.
F22A
In subsection (2) “the appropriate regulator” means—
a
in the case of a PRA-authorised person, the PRA, and
b
in any other case, the FCA.
3
If an EEA firm has a F3Part 4A permission, it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Part II of Schedule 3.
35 Treaty firms.
1
A Treaty firm ceases to qualify for authorisation under Schedule 4 if its home State authorisation is withdrawn.
2
At the request of a Treaty firm, F4the appropriate regulator may give a direction cancelling its Schedule 4 authorisation.
F52A
In subsection (2) “the appropriate regulator” means—
a
in the case of a PRA-authorised person, the PRA, and
b
in any other case, the FCA.
3
If a Treaty firm has a F6Part 4A permission, it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Schedule 4.
36 Persons authorised as a result of paragraph 1(1) of Schedule 5.
1
At the request of a person authorised as a result of paragraph 1(1) of Schedule 5, the F11FCA may give a direction cancelling his authorisation as such a person.
2
If a person authorised as a result of paragraph 1(1) of Schedule 5 has a F12Part 4A permission, he does not cease to be an authorised person merely because he ceases to be a person so authorised.