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Regulation 19 FCA review of power exercised in exceptional circumstances

Original text. Later amendments are not shown.

(1)

Where the FCA has imposed a requirement under regulation 13 or 14 or imposed a prohibition or condition under regulation 15, the FCA must—

(a)

review the requirement, prohibition or condition regularly, and

(b)

withdraw the requirement, prohibition or condition if the FCA considers that the conditions set out in regulation 16(1) are no longer met.

(2)

Where the FCA has imposed a prohibition or condition under regulation 17, the FCA must—

(a)

review the prohibition or condition regularly, and

(b)

withdraw the prohibition or condition if the FCA considers that the conditions set out in regulation 17(2) are no longer met.

(3)

Having conducted a review under paragraph (1) or (2), the FCA may extend the time period in relation to which a requirement, prohibition or condition imposed under regulation 13, 14, 15 or 17 will be in force if the conditions in regulation 16(1) or 17(2) (as applicable) continue to be met.

(4)

The FCA must publish a notice in accordance with regulation 18 of any decision to extend a time period under paragraph (3).