SUP 8.2 Introduction
Waivers under section 138A of the Act
12SUP 8.2.1 G does not apply to:
- (1)
rules made by either regulator under section 137O of the Act;
- (2)
rules made by the FCA under sections 247 or 248 of the Act.
The directions referred to in SUP 8.2.1 G (1) and SUP 8.2.1 G (2) are collectively referred to in the Handbook as waivers.
Waivers of rules in COLL10
Sections 250 and 261L11 of the Act and regulation 7 of the OEIC Regulations allow the FCA12 to waive the application of certain rules in COLL to:
111210- (1)
a person, as respects a particular AUT, ACS11 or ICVC, on the application or with the consent of that person; and
- (2)
an AUT, ACS11 or ICVC on the application or with the consent of the manager and trustee (in the case of an AUT), the authorised contractual scheme manager and depositary (in the case of an ACS)11 or the ICVC and its depositary (in the case of an ICVC).2