Regulation 17 Grounds for revocation of registrationF1C1C2
United Kingdom
Subject to paragraph (2), the FCA may revoke the registration of a small registered UK AIFM, including its registration under F2Article 15 of the EuSEF Regulation or F3Article 14 of the EuVECA Regulation, if—
the AIFM does not meet a condition in regulation 10(2), (3) or, as the case may be, (4)F4(a) or (b);
the AIFM has contravened an implementing provisionF5... that applies to it;
the AIFM applies for or consents to the revocation of its registration;
the AIFM is wound up; or
a fee due in respect of the registration has not been paid.
If an AIFM applies to the FCA for permission in accordance with regulation 16(2)(b), the FCA may not revoke the registration of the AIFM on the ground that the AIFM is not a small AIFM until the FCA has determined the AIFM's application.
Annotations
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)
- F2
Words in reg. 17(1) substituted (1.3.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(7)(a)
- F3
Words in reg. 17(1) substituted (1.3.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(7)(b)
- F4
Words in reg. 17(1)(a) inserted (1.3.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(7)(c)
- F5
Words in reg. 17(1)(b) omitted (1.3.2018) by virtue of The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(2), 2(7)(d)
Modifications
- C1
Reg. 17 modified (30.1.2024 for specified purposes) by The Securitisation Regulations 2024 (S.I. 2024/102), regs. 2(1)(e)(2), 34(5)(6)(a) (with Sch. 3)
- C2
Reg. 17 modified (30.1.2024 for specified purposes, 1.11.2024 in so far as not already in force) by The Securitisation Regulations 2024 (S.I. 2024/102), regs. 2(1)(e)(2), 34(5)(6)(a) (with Sch. 3) (as amended by S.I. 2024/705, regs. 1(2), 2(2))
Notes on Part 3
Modifications
- C1
Pt. 3 modified (31.12.2020) by The Venture Capital Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/333), regs. 1(1), 11(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 3 modified (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 11(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)