481.The Authority can revoke an authorisation order where the manager or trustee requests it to, but it can also refuse to revoke authorisation where it considers that refusal would be in the interests of participants, or that the public interest requires an investigation before authorisation is revoked. Warning and decision notice procedures will apply and the decision may be referred to the Tribunal.
Commentary on Sections Part Xvii: Collective Investment Schemes Chapter III: Authorised unit trust schemes Section 256: Requests for revocation of authorisation order