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  1. Point in time
    2020-11-27

PRR Sch 6 Rules that can be waived or modified

PRR Schedule 6.1G

11.

As a result of section 138A of the Act (Modification or waiver of rules) the FCA 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) of the Act. However, if the rules incorporate requirements laid down in European directives, it will not be possible for the FCA to grant a waiver that would be incompatible with the United Kingdom’s responsibilities under those directives.

2.

In addition, article 18 (Omission of information) of the Prospectus Regulation provides the FCA with discretion to authorise omissions from disclosure requirements derived from the Prospectus Regulation in the circumstances specified in that article.