BCOBS Sch 6 Rules that can be waived


As a result of section 138A of the Act (Modification or waiver of rules)3 the FCA3 has power to waive all its rules, other than rules made under section 137O (Threshold condition code), section 247 (Trust scheme rules), section 248 (Scheme particular rules), section 261I (Contractual scheme rules) or section 261J (Contractual scheme particulars rules)2 of the Act3. However, if the rules incorporate requirements laid down in European directives, it will not be possible for the FCA3 to grant a waiver that would be incompatible with the United Kingdom's responsibilities under those directives.