Section 55NA(8)

The FCA may vary or cancel a person’s permission under subsection (5)(b) if it appears to the FCA that— the person has failed, during a period of at least 12 months, to give, or to refuse to give, any approvals for the purposes of section 21 in accordance with the permission, or it is desirable to vary or cancel the permission in order to advance one or more of its operational objectives.

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