Section 271L(2)

The FCA may give a direction under subsection (1) only if— the FCA is no longer satisfied that the conditions set out in section 271G(2)(a) to (c) are met, it appears to the FCA that a requirement relating to the scheme or its operator imposed by or under this Act has not been satisfied, or is likely not to be satisfied, it appears to the FCA that the operator of the scheme has, in purported compliance with any such requirement, knowingly or recklessly given the FCA information which is false or misleading in a material particular, or although none of paragraphs (a) to (c) applies, the FCA considers it desirable to do so in order to protect the interests of participants or potential participants in the United Kingdom.

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Source: legislation.gov.uk · retrieved 2026-09-04