{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/schedule-2A/paragraph-37",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/schedule-2A/paragraph-37.json",
  "legislation": "ukpga/2000/8",
  "legislation_title": "Financial Services and Markets Act 2000",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
  "path": "schedule/2A/paragraph/37",
  "kind": "paragraph",
  "number": "37",
  "heading": null,
  "text": "(1) The FCA may cancel a Schedule 2A permission where one of the own-initiative conditions is satisfied (see paragraph 28).\n(2) The PRA may cancel a PRA-authorised person's Schedule 2A permission where one of the own-initiative conditions is satisfied (see paragraph 28).\n(3) The appropriate UK regulator must cancel a Schedule 2A permission where—\n(a) the permission no longer enables the person to carry on an approved activity (whether by virtue of paragraph 13 or otherwise), and\n(b) the UK regulator is satisfied that it is no longer necessary to keep the permission in force.\n(4) In this paragraph, “the appropriate UK regulator” means—\n(a) the PRA, in a case where the Gibraltar-based person is a PRA-authorised person, and\n(b) the FCA, in any other case.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6 (as amended (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 100(3)(b)); S.I. 2023/934, reg. 2(a)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "power to apply (with modifications) conferred",
      "affecting": "ukpga/2021/22",
      "affecting_title": "Financial Services Act 2021"
    },
    {
      "type": "power to apply (with modifications) conferred",
      "affecting": "ukpga/2021/22",
      "affecting_title": "Financial Services Act 2021"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/schedule/2A/paragraph/37",
    "retrieved_at": "2026-10-29T09:21:21.899993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}