Part XVII Collective Investment Schemes

Chapter III Authorised Unit Trust Schemes

Ending of authorisation

255 Procedure.

C11

If the F1FCA proposes to make an order under section 254 revoking an authorisation order (“a revoking order”), it must give separate warning notices to the manager and the trustee of the scheme.

2

If the F1FCA decides to make a revoking order, it must without delay give each of them a decision notice and either of them may refer the matter to the Tribunal.