[55P Prohibitions and restrictions]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[55P  Prohibitions and restrictions]

[(1)     This section applies if—

(a)     on a person being given a Part 4A permission, either regulator imposes an assets requirement on that person,

(b)     an assets requirement is imposed on an authorised person, or

(c)     an assets requirement previously imposed on such a person is varied.

(2)     A person on whom an assets requirement is imposed is referred to in this section as “A”.

(3)     The “appropriate regulator” is the regulator which imposed the requirement.

(4)     “Assets requirement” means a requirement under section 55L or 55M—

(a)     prohibiting the disposal of, or other dealing with, any of A's assets (whether in the United Kingdom or elsewhere) or restricting such disposals or dealings, or

(b)     that all or any of A's assets,

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