[199A Management companies: loss of authorisation]
[199A Management companies: loss of authorisation]

[(1)     This section applies in relation to an EEA firm falling within paragraph 5(f) of Schedule 3 (“a management company”) which is providing services in the United Kingdom in the exercise of an EEA right deriving from the UCITS directive.

(2)     If the [appropriate regulator] has been informed by the home state regulator of the management company that it is withdrawing the management company's authorisation, the [appropriate regulator] must exercise its powers under this Act in such manner as it thinks fit to safeguard the interests of investors in a collective investment scheme managed by the management company in the United Kingdom.

(3)     Measures taken under subsection (2) may include decisions preventing the management company from initiating any further transactions in the United Kingdom.