Part XVII

Collective Investment Schemes
Chapter III

Authorised Unit Trust Schemes

Powers of intervention

Procedure: revocation of direction and grant of request for variation
261
1
If the Authority decides on its own initiative to revoke a direction under section 257 it must give separate written notices of its decision to the manager and trustee of the scheme.
2
If on an application under section 257(6) for a direction to be revoked or varied the Authority decides to revoke the direction or vary it in accordance with the application, it must give the applicant written notice of its decision.
3
A notice under this section must specify the date on which the decision takes effect.
4
The Authority may publish such information about the revocation or variation, in such way, as it considers appropriate.