F1SCHEDULE 1AMENDMENTS TO PRIMARY LEGISLATION
PART 1Amendments to the Financial Services and Markets Act 2000
20
In section 277 (alteration of schemes and changes of operator, trustee or depositary), after subsection (3) insert—
4
If a change is made, or is to be made, to the law which applies to such a scheme in the country or territory in which it is managed and the change affects or will affect any of the matters mentioned at section 272(2) to (4), the operator of the scheme must give written notice of the change to the FCA—
a
at least one month before the change takes effect; or
b
if that is not reasonably practicable, as soon as it is reasonably practicable to do so.
5
A notice under this section—
a
must be given in such manner as the FCA may direct; and
b
where the notice is given under subsection (1) or (3), must include such information as the FCA may direct for the purpose of determining whether the requirements for the making of an order under section 272 in respect of the scheme would continue to be satisfied following the alteration or replacement that is the subject of the notice.
Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)