Part III Authorisation and Exemption

Ending of authorisation

35 Treaty firms.

1

A Treaty firm ceases to qualify for authorisation under Schedule 4 if its home State authorisation is withdrawn.

2

At the request of a Treaty firm, F1the appropriate regulator may give a direction cancelling its Schedule 4 authorisation.

F22A

In subsection (2) “the appropriate regulator” means—

a

in the case of a PRA-authorised person, the PRA, and

b

in any other case, the FCA.

3

If a Treaty firm has a F3Part 4A permission, it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Schedule 4.