Regulation 21 Power of FCA to give directions in relation to Part 4I1

United Kingdom As made

(1)

The FCA may by directions impose such requirements on a person relating to a requirement, prohibition or condition imposed by the FCA under this Part as the FCA considers appropriate.

(2)

The FCA may give a direction under paragraph (1) only if it appears to the FCA that the person is failing, or is likely to fail, to comply with a requirement, prohibition or condition imposed by the FCA under this Part.

(3)

A requirement may, in particular, be imposed so as to require the person concerned—

(a)

to take specified action, or

(b)

to refrain from taking specified action.

(4)

A direction under this regulation—

(a)

may specify the way in which, and the time by which, a thing is to be done;

(b)

may be varied;

(c)

may be expressed to have effect during a specified period or until revoked.

(5)

The FCA may at any time revoke a direction under this regulation by notice.

(6)

The revocation of a direction does not affect the validity of anything previously done in accordance with it.

(7)

A direction or notice under this regulation must be given in writing to the person or persons to whom it applies.

(8)

The imposition of a requirement that expires at the end of a specified period does not affect the FCA’s power to impose a new requirement.

Annotations

Commencement

I1: Reg. 21 comes into force in accordance with reg. 2(2)(3)