http://www.legislation.gov.uk/ukpga/2000/8/section/242/2018-07-21Financial Services and Markets Act 2000An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.2000-06-15texttext/xmlenStatute Law Database2026-05-30Expert Participation2018-07-21 Part XVII Collective Investment SchemesChapter III Authorised Unit Trust Schemes Applications for authorisation Applications for authorisation of unit trust schemes.2421The manager and trustee, or proposed manager and trustee, of a unit trust scheme may apply to the FCA for—aan order declaring the scheme to be an authorised unit trust scheme;ban order declaring the scheme to be an authorised money market fund.2The manager and trustee (or proposed manager and trustee) must be different persons.3 An application —amust be made in such manner as the FCA may direct; andbmust contain or be accompanied by such information as the FCA may reasonably require for the purpose of determining the application.4At any time after receiving an application and before determining it, the FCA may require the applicants to provide it with such further information as it reasonably considers necessary to enable it to determine the application.5Different directions may be given, and different requirements imposed, in relation to different applications.6The FCA may require applicants to present information which they are required to give under this section in such form, or to verify it in such a way, as the FCA may direct.S. 242 extended (1.12.2001) by S.I. 2001/3592, arts. 1(2), 39(1) (with art. 23(2))S. 242 wholly in force at 1.12.2001; s. 242 not in force at Royal Assent see s. 431(2); s. 242(3) in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; s. 242 in force for specified purposes at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2; s. 242 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)Word in ss. 242-252A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.S. 242(1) substituted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(5)(a)Words in s. 242(3) substituted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(5)(b)