[243A Authorisation orders: authorised money market funds]

[243A  Authorisation orders: authorised money market funds]

[(1)     If, on an application under section 242(1)(b) in respect of a unit trust scheme, conditions A and B are met the FCA may make an order declaring the scheme to be an authorised money market fund.

(2)     Condition A is that the FCA is satisfied that the scheme will be able to comply with the requirements imposed on a money market fund under the MMF Regulation.

(3)     Condition B is that—

(a)     the scheme is an authorised unit trust scheme, or

(b)     the scheme—

(i)     is the subject of an application under section 242(1)(a),

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