Regulation 25 Assessment of whether an advance application is completeI1

United Kingdom

The FCA must, before the end of a period of 20 working days beginning with the day of receipt—

(a)

if it considers that an advance application complies with regulation 24(2) and the directions (if any) under regulation 24(3), confirm in writing to the applicant that the application is complete;

(b)

if it considers that the application does not comply with regulation 24(2) or one or more of the directions (if any) under regulation 24(3)—

(i)

confirm in writing to the applicant that the application is not complete, and

(ii)

inform the applicant of the steps which need to be taken, and the time within which they need to be taken, for the application to be considered complete.

Annotations

Commencement

I1: Reg. 25 in force at 14.2.2019, see reg. 1(2)

Notes on the whole SI

Textual amendments

F1: Regulations revoked (1.1.2024 for the revocation of reg. 3(3)) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/779, reg. 5(c)(iii)