35 Treaty firms
35 Treaty firms

(1)     A Treaty firm ceases to qualify for authorisation under Schedule 4 if its home State authorisation is withdrawn.

(2)     At the request of a Treaty firm, [the appropriate regulator] may give a direction cancelling its Schedule 4 authorisation.

[(2A)     In subsection (2) “the appropriate regulator” means—

(a)     in the case of a PRA-authorised person, the PRA, and

(b)     in any other case, the FCA.]

(3)     If a Treaty firm has a [Part 4A permission], it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Schedule 4.