256 Requests for revocation of authorisation order
256 Requests for revocation of authorisation order

(1)     An authorisation order may be revoked by an order made by the [FCA] at the request of the manager or trustee of the scheme concerned.

(2)     If the [FCA] makes an order under subsection (1), it must give written notice of the order to the manager and trustee of the scheme concerned.

(3)     The [FCA] may refuse a request to make an order under this section if it considers that—

(a)     the public interest requires that any matter concerning the scheme should be investigated before a decision is taken as to whether the authorisation order should be revoked; or

(b)     revocation would not be in the interests of the participants or would be incompatible with [an] [EU] obligation.

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