277 Alteration of schemes and changes of operator, trustee or depositary

277  Alteration of schemes and changes of operator, trustee or depositary

(1)     The operator of a scheme recognised by virtue of section 272 must give written notice to the [FCA] of any proposed alteration to the scheme [which, if made, would be a material alteration].

(2)     Effect is not to be given to any such proposal unless—

(a)     the [FCA], by written notice, has given its approval to the proposal; or

(b)     one month, beginning with the date on which notice was given under subsection (1), has expired without the [FCA] having given written notice to the operator that it has decided to refuse approval.

(3)     At least one month befor

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