# The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020, Regulation 10: Cessation following a determination by the FCA


(1) The FCA may determine that regulation 6 should cease to apply to a person—
(a) where, in respect of an advance application—
(i) the application does not comply with any applicable direction made by the FCA under regulation 2(2)(a) or (b); and
(ii) the steps referred to in regulation 3(b)(ii) have not been taken within the time specified;
(b) following a decision refusing registration in accordance with regulation 4(3); or
(c) at the request of the person to whom regulation 6 applies.
(2) The FCA must notify the person in respect of whom the determination is made of the day on which regulation 6 will cease to apply.
(3) Paragraph (1) is subject to Article 10 (withdrawal of registration) of the SFT Regulation.

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Source: https://www.legislation.gov.uk/ukdsi/2020/9780348213614/regulation/10 (the official version)
Page: https://openlegislation.uk/draft-securities-financing-transactions-securitisation-and-miscellaneous-amendments-eu-exit-regulations-2020/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.