SRA Handbook

Withdrawal of approval

Back to version 21

Version 20 of the Handbook was published on 01/10/2018. For more information, please click 'History' Above

Rule 17: Withdrawal of approval

17.1

Where the SRA has granted an approval of a person to be a manager, owner or compliance officer of a body (including a deemed approval under Rule 13.2 or Rule 13.3), it may subsequently withdraw that approval if:

(a)

it is not satisfied that an approved person met or meets the criteria for approval in Rule 15;

(b)

it is satisfied that a condition imposed on the body's authorisation under Rule 14.5 has not been, or is not being complied with;

(c)

it is satisfied that the approved person has breached a duty or obligation imposed upon them in or under the SRA's regulatory arrangements or any enactments; or

(d)

information or documentation is not promptly supplied in response to a request made under Rule 14.8.

17.2

Where withdrawal of approval relates to a director of a company, the SRA may set separate dates for that individual ceasing to be a director and disposing of his or her shares.