Regulation 29 Cancellation of registrations

The competent body shall cancel a registration for the exercise by a registered intermediary of an intermediary activity if the competent body is satisfied that the intermediary has ceased exercising that activity.

The competent body shall cancel a registration for the exercise of an intermediary activity by a registered intermediary if, following the procedure in regulation 30, the competent body is not satisfied that, in relation to that activity, the intermediary is complying with regulation 47, 51, 64 or 68, as the case may be.

Where, pursuant to paragraphs (1) or (2), the competent body cancels a registration, it shall amend the list maintained by it under regulation 27(b), by deleting from it the entry effecting registration in respect of the intermediary activity for which registration has been cancelled.