25Duty to notify regulator of grounds for withdrawal of approvalU.K.
This section has no associated Explanatory Notes
In section 63 of FSMA 2000 (withdrawal of approval), after subsection (2) insert—
“(2A)At least once a year each relevant authorised person must, in relation to every person in relation to whom an approval has been given on the application of the authorised person—
(a)consider whether there are any grounds on which a regulator could withdraw the approval under this section, and
(b)if the authorised person is of the opinion that there are such grounds, notify the regulator of those grounds.
(For the meaning of “relevant authorised person”, see section 71A.)”
Commencement Information
I1S. 25 in force at 7.3.2016 by S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))