PART 5A

Wholesale cash distribution

Recognised persons

Amendment or revocation of a wholesale cash oversight order
206J
1
The Treasury may amend or revoke a wholesale cash oversight order.
2
The Treasury must revoke a wholesale cash oversight order if no longer satisfied that the person specified in the order—
a
performs a relevant function in relation to a wholesale cash distribution activity, and
b
has market significance.
3
If a person is specified in a wholesale cash oversight order as having systemic significance, the Treasury must amend the order (so that the person is specified as having market significance only) if—
a
satisfied that the person continues to have market significance, but
b
no longer satisfied that the person has systemic significance.
4
Subject to subsections
(2)
and
(3)
, the Treasury must consider any request by a person specified in a wholesale cash oversight order for the amendment or revocation of the order.
5
Section
206I
(procedure) applies to the amendment or revocation of a wholesale cash oversight order as it applies to the making of the order.
Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 1