PART 8B

Cash access services

Supervision of designated persons

Power to direct designated persons
131W
1
The FCA may give a direction under this section to a designated person if it considers that it is desirable to give the direction for the purpose mentioned in section
131U
(1)
.
2
A direction under this section must not require a designated person to do (or refrain from doing) any thing in relation to a part of the United Kingdom in relation to which the person is not designated.
3
A direction under this section may require the person to—
a
take specified action;
b
refrain from taking specified action;
c
review, or take remedial action in respect of, past conduct.
4
A requirement imposed by a direction under this section may be expressed to expire at the end of a specified period, but the imposition of a requirement that expires at the end of a specified period does not affect the power to give a further direction imposing a new requirement.
5
A direction under this section—
a
may be revoked by the FCA by written notice to the person to whom it is given, and
b
ceases to be in force if the person to whom it is given ceases to be a designated person.
Pt. 8B inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(c), Sch. 8 para. 1