PART 5A

Designated activities
CHAPTER 2

PROVISIONS RELATING TO PARTICULAR DESIGNATED ACTIVITIES

Procedure relating to relevant Part 5A directions

Application for variation or revocation of relevant Part 5A direction
71W
1
A person to whom a relevant Part 5A direction has been given may apply to the FCA for the variation or revocation of the direction.
2
An application for the variation of a direction must contain a statement of the desired variation.
3
An application under this section must—
a
be made in such manner as the FCA may direct, and
b
contain, or be accompanied by, such information as the FCA may reasonably require.
4
At any time after the application is received and before it is determined, the FCA may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application.
5
Different directions under subsection (3)(a) may be given, and different requirements under subsection (3)(b) or (4) imposed, in relation to different applications or categories of application.
6
The FCA may require an applicant to provide information which the applicant is required to provide to it under this section in such form, or to verify it in such a way, as the FCA may direct.
7
The applicant may withdraw the application, by giving the FCA written notice, at any time before the FCA determines it.
Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 8(2), 86(3); S.I. 2023/779, reg. 4(e)
Pt. 5A Ch. 2 inserted (14.1.2025) by The Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025 (S.I. 2025/22), reg. 1(2), Sch. para. 3
S. 71W applied (with modifications) (14.1.2025 for specified purposes) by The Short Selling Regulations 2025 (S.I. 2025/29), regs. 2(2)(3), 24, 25, Sch. 1 Pt. 1