Section 55J(7ZA)

Without prejudice to the generality of subsections (1) and (2), if it appears to the FCA that there has been a serious failure, by a person with permission to carry on the regulated activity specified in article 51ZA of the Financial Services and Markets Act (Regulated Activities) Order 2001 (managing a UK UCITS), to comply with the requirements imposed— the FCA may exercise its powers under this section to vary the Part 4A permission of the person concerned by removing that activity from those to which the permission relates, or to cancel the person’s Part 4A permission. by or under this Act in pursuance of the UCITS Directive, ... by the Undertakings for Collective Investment in Transferable Securities Regulations 2011, or an MMF requirement,

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