An authorised person must not approve the content of a communication for the purposes of section 21 unless the person has permission to do so given by the FCA under this section.
An authorised person who approves the content of a communication for the purposes of section 21 otherwise than in accordance with permission granted under this section is to be taken to have contravened a requirement imposed on the person by the FCA under this Act.
Permission may be granted by the FCA under this section on the application of—
The FCA may grant a person permission under this section—
Where the FCA grants permission to a person under this section, the FCA may vary or cancel the permission—
and subsection (4)(b) applies to the variation of permission as it applies to its grant.
If the FCA grants or varies permission under this section it must set out the terms on which the permission is given, described in such way as it considers appropriate.
The FCA may refuse to grant an application for permission under this section, or for its variation or cancellation under subsection (5)(a), if it appears to the FCA that it is desirable to do so in order to advance one or more of its operational objectives.
The FCA may vary or cancel a person's permission under subsection (5)(b) if it appears to the FCA that—
The FCA must consult—
Subsection (9)(b) does not apply in a case where the FCA varies or cancels permission of a Gibraltar-based person in exercise of its power under subsection (5)(b), but the FCA must inform the Gibraltar regulator in writing of the variation or cancellation.
Subsections (1) and (2) do not apply if the giving of approval falls within an exemption conferred by regulations made under section 55NB.
Nothing in this section limits any other power under this Act to impose requirements in relation to approvals given for the purposes of section 21 so far as those requirements are additional to the requirement imposed by subsection (1) of this section (but any such other requirement that is inconsistent with the requirement imposed by that subsection is of no effect to the extent of that inconsistency).