Part XIII Incoming Firms: Intervention by [FCA or PRA] (ss 193-203)
Part XIII Incoming Firms: Intervention by [FCA or PRA] (ss 193-203)

193 Interpretation of this Part

(1)     In this Part—

“additional procedure” means the procedure described in section 199;

“incoming firm” means—

(a)     an EEA firm which is exercising, or has exercised, its right to carry on a regulated activity in the United Kingdom in accordance with Schedule 3;

[(aa)     an EEA UCITS which is a recognised scheme under section 264;] . . .

[(ab)     an EEA AIFM which is exercising, or has exercised, its right to market an AIF in the United Kingdom in accordance with Schedule 3; or]

(b)     a Treaty firm which is exercising, or has exercised, its right to carry on a regulated activity in the United Kingdom in accordance with Schedule 4; and

“power of intervention” means the power conferred on [the FCA or the PRA] by section 196.

[(1A)     In the definition of “incoming firm” references to an EEA UCITS include, in a case where the UCITS is not a body corporate, references to its management company.]

(2)     In relation to an incoming firm which is an EEA firm [or an EEA UCITS], expressions used in this Part and in Schedule 3 have the same meaning in this Part as they have in that Schedule.


194 General grounds on which power of intervention is exercisable

(1)     The [appropriate regulator] may exercise its power of intervention in respect of an incoming firm if it appears to it that—

(a)     the firm has contravened, or is likely to contravene, a requirement which is imposed on it by or under this Act (in a case where the [appropriate regulator] is responsible for enforcing compliance in the United Kingdom);

. . .
203 . . .