63 Withdrawal of approval
63 Withdrawal of approval

[(1)     The FCA may withdraw an approval under section 59 given by the FCA or the PRA in relation to the performance by a person of a function if the FCA considers that the person is not a fit and proper person to perform the function.

(1A)     The PRA may withdraw an approval under section 59 in relation to the performance by a person (“A”) of a function if—

(a)     the PRA gave the approval, or the FCA gave the approval and the function is a [relevant senior management function] performed in relation to the carrying on by a PRA-authorised person of a regulated activity, and

(b)     the PRA considers that A is not a fit and proper person to perform the function.