Section 6(2)

Notwithstanding paragraph (1)— the treatment of the specified requirement as a requirement imposed under section 55L or 55M of the Act does not— amount for the purpose of section 55X(1) (determination of applications: warning notices and decision notices) of the Act to a proposal to exercise the power of the appropriate regulator under section 55L(1) or 55M(1) of the Act; amount for the purpose of section 55X(4) of the Act to a decision to exercise the power of the appropriate regulator under section 55L(1) or 55M(1) of the Act; or entitle the person to refer a matter under section 55Z3(1) (right to refer matters to the Tribunal) of the Act; the specified requirements shall not expire until the person ceases to be an exempt investment firm; and no application under section 55L(5) or 55M(5) of the Act to vary or cancel any of the specified requirements may be made by the person unless they inform the appropriate regulator when making the application that they wish to cease to be an exempt investment firm.

← 1 · All articles · 3 →

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