# The Alternative Investment Fund Managers Regulations 2013, Regulation 23H: Procedure in relation to the refusal of an application for MMF authorisation


(1) If the FCA proposes to refuse an application made in respect of an AIF for authorisation as an MMF under Article 5 of the MMF Regulation, it must give the applicant a warning notice.
(2) If the FCA decides to refuse an application—
(a) it must give the applicant a decision notice; and
(b) the applicant may refer the matter to the Tribunal.

---
Source: https://www.legislation.gov.uk/uksi/2013/1773/regulation/23H (the official version)
Page: https://openlegislation.uk/alternative-investment-fund-managers-regulations-2013/regulation-23H
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.