Permissions and Waivers Applications to Vary and Cancel Part 4A Permission
Application provision
2.1 This Chapter applies to every firm that wishes to:
- (1) vary its Part 4A permission; or
- (2) cancel its Part 4A permission.
2.1
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This Chapter applies to every firm that wishes to:
- (1) vary its Part 4A permission; or
- (2) cancel its Part 4A permission.
2.2
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The PRA directs that a firm other than a credit union wishing to make an application to vary or cancel a Part 4A permission apply online using the form specified on the ONA system, unless otherwise advised by the PRA.
2.3
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Where the ONA system fails and is unavailable for 24 hours or more, the PRA directs that a firm which is required to make an application in the manner set out in 2.2 make the application by using the relevant form on the PRA’s website and submit it using one of the alternative ways set out in Notifications 7.4.
2.4
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The PRA directs that a credit union wishing to make an application to vary or cancel a Part 4A permission submit the relevant form on the PRA’s website using one of the alternative ways set out in Notifications 7.4.
2.5
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Where a firm has applied for cancellation of its Part 4A permission, it must demonstrate to the PRA that it has ceased or will cease carrying on all regulated activities.