Regulation 43 Publication of written notices

(1)

Subject to paragraph (2), the F1PRA must publish a relevant notice in the way appearing to F2the PRA to be best calculated for bringing it to the attention of—

(a)

persons likely to be affected by it; and

(b)

persons who are, in the opinion of the PRA , likely to make an application for a similar permission.

(2)

Paragraph (1) does not apply if—

(a)

the relevant notice relates to an application for a permission which has been refused; or

(b)

the PRA is satisfied that it is inappropriate or unnecessary to publish the relevant notice.

(3)

In deciding whether it is satisfied of the matters mentioned in paragraph (2)(b), the PRA must consider whether—

(a)

publication would prejudice, to an unreasonable degree, the commercial interests of the person concerned or any other member of the person's immediate group;

(b)

publication of the relevant notice without mentioning the identity of the person concerned might avoid any adverse consequence of publication.

(4)

In this regulation, “relevant notice” means a written notice—

(a)

given under regulation 41 in relation to a decision of F3the PRA; or

(b)

stating that an event referred to in paragraph (5) has occurred in relation to that decision.

(5)

The events mentioned in paragraph (4)(b) are—

(a)

the decision has been referred to the Tribunal;

(b)

the decision has been suspended by the Tribunal;

(c)

any suspension of the decision has been revoked by the Tribunal;

(d)

the reference has been dismissed by the Tribunal.

Annotations

Textual amendments

F1: Word in reg. 43(1) substituted (1.1.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(3), 16(19)(a)
F2: Words in reg. 43 substituted (1.1.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(3), 16(19)(c)
F3: Words in reg. 43(4)(a) substituted (1.1.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/1376), regs. 1(3), 16(19)(b)

Notes on the whole SI

Textual amendments

F1: 2000 c. 8. Section 349(2) was amended by section 41 of, and paragraphs 19(1) and (2) of Schedule 12 to, the Financial Services Act 2012 (c. 21); paragraphs 14(1)(b), 17(c), 18 and 22 of Schedule 3 were amended by section 12 of, and paragraphs 1, 3, 7, 8 and 14 of Schedule 4 to, the Financial Services Act 2012; paragraph 14(1)(b) was also amended by S.I. 2003/1473 and S.I. 2003/2066.