[309R Varying approval on the appropriate regulator's initiative]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[309R  Varying approval on the appropriate regulator's initiative]

[(1)     The appropriate regulator may vary an approval under section 309G if it considers it desirable to do so in order to advance a relevant objective.

(2)     For these purposes, “relevant objective” means—

(a)     if the appropriate regulator is the FCA, any of its operational objectives;

(b)     if the appropriate regulator is the Bank of England, the Financial Stability Objective.

(3)     The appropriate regulator may vary the approval by doing the following—

(a)     imposing a condition,

(b)     varying a condition,

(c)     removing a condition,

(d)     where the approval has effect for an unlimited period, limiting the period of the approval, or

(e)     where the approval has effect for a limited period, varying that period

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