[55K Investment firms: particular conditions that enable cancellation]
[55K Investment firms: particular conditions that enable cancellation]

[(1)     The conditions referred to in section 55J(6) are as follows—

(a)     that the firm has failed, during a period of at least 6 months, to carry on a regulated activity which is an investment service or activity for which it has a Part 4A permission;

(b)     that the firm obtained the Part 4A permission by making a false statement or by other irregular means;

(c)     that the firm no longer satisfies the requirements for authorisation pursuant to Chapter I of Title II of the markets in financial instruments directive, or pursuant to or contained in any EU legislation made under that Chapter, in relation to a regulated activity which is an investment service or activity for which it has a Part 4A permission;

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