Explanatory Notes

Financial Services and Markets Act 2000

2000 CHAPTER 8

14 June 2000

Commentary on Sections

Part Iii: Authorisation and Exemption

Section 36: Persons authorised as a result of paragraph 1(4) of Schedule 5

88.This section enables the Authority to cancel the automatic authorisation under Schedule 5 of managers and depositaries of UCITS schemes at their request.  However, if the person also has permissions under Part IV, he does not cease to be an authorised person as a result.