Paragraph 4

United Kingdom

(1)

Where an application for recognition or a licence under the former Act has been refused by the Bank and at the coming into force of section 3 of this Act—

(a)

an appeal is pending against that refusal; or

(b)

the time for appealing against that refusal has not expired,

the repeal of the former Act shall not preclude the determination, or the bringing and determination, of the appeal and the grant or refusal of recognition or a licence as a result of that determination.

(2)

Sub-paragraph (1) above does not apply to an appeal by a licensed institution against a refusal to grant it recognition.

Notes on the whole Act

Textual amendments

F1

Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(d)

Act continued (with modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9(1), Sch. 1 Pt. 1; S.I. 2001/3538 (as amended (1.4.2013) by S.I. 2013/472, arts. 1(1), 3, Sch. 2 para. 56(h)(i)); and specified provisions of Act applied, extended and amended (1.4.2003) so far as still in force by 2001 c. 16, ss. 50, 52-54, 57(1)(j)(4), 68, 138(2), Sch. 1 para. 43, Sch. 2 para. 16(2)(d); S.I. 2003/708, art. 2