Section 68 Maintenance of assets in United Kingdom.C1
United Kingdom
The Secretary of State may require an authorised person or appointed representative to maintain in the United Kingdom assets of such value as appears to the Secretary of State to be desirable with a view to ensuring that the authorised person or, as the case may be, appointed representative will be able to meet his liabilities in respect of investment business carried on by him in the United Kingdom.
The Secretary of State may direct that for the purposes of any requirement under this section assets of any specified class or description shall or shall not be taken into account.
Annotations
Modifications
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S. 68 applied (with modifications) (15.8.1995) by S.I. 1995/2049, regs. 6, 7-18
Notes on the whole Act
Textual amendments
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Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(c) (with savings in art. 292)
Notes on Part I
Modifications
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Pt. I (ss. 1-128) amended (S.) (22.5.2000) by S.I. 2000/121, regs. 1, 37, Sch. 2
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Pt. I (ss. 1–128): power to modify conferred (prosp.) by Courts and Legal Services Act 1990 (c. 41, SIF 76:1), ss. 89, 124(3), Sch. 14 para. 9(c)
Notes on Chapter VI
Modifications
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Chapters III–XI (ss. 7–111): certain functions transferred by S.I. 1990/354, art. 5