Section 282A Obligations on operator where recognition is revoked or suspendedF1

(1)

This section applies where—

(a)

the FCA gives a decision notice under section 280(2) in relation to a scheme recognised under section 272, or

(b)

a direction given by the FCA under section 281(2) in relation to such a scheme takes effect.

(2)

The operator of the scheme must notify such persons as the FCA may direct that the FCA has revoked an order under section 272 for recognition of the scheme or given a direction under section 281 in relation to the scheme (as applicable).

(3)

A notification under subsection (2) that relates to a direction under section 281 must set out the terms of the direction.

(4)

A notification under subsection (2) must—

(a)

contain such information as the FCA may direct, and

(b)

be made in such form and manner as the FCA may direct.

(5)

Different directions may be given under subsection (2) or (4) in relation to—

(a)

different schemes or different descriptions of schemes;

(b)

different persons or descriptions of persons to whom a notification under subsection (2) must be given.

Annotations

Textual amendments

F1: Ss. 282A-282C inserted (23.2.2022) by Financial Services Act 2021 (c. 22), ss. 25(5), 49(5); S.I. 2022/163, reg. 2(b)

Notes on Part XVII

Modifications

C1: Pt. 17 modified (20.2.2019) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(3), 62 (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 12(b))

Notes on Chapter V

Modifications

C1: Pt. 17 modified (20.2.2019) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(3), 62 (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 12(b))

Notes on ...

Textual amendments

F1: S. 278 crossheading omitted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 1 para. 22