Schedule 5, paragraph 10(2)

After subsection (1) insert— This section also applies to an exercise of the FCA’s power under subsection (5)(b) of section 55NA to vary of its own initiative a permission given under that section to an authorised person (“A”). References in this section to a regulator’s own initiative variation power are to be taken as including the power mentioned in subsection (1A).

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