# The Small and Medium Sized Business (Finance Platforms) Regulations 2015, Regulation 41: Application of Part 26 of the 2000 Act


Part 26 (notices) of the 2000 Act applies for the purposes of this Part as if—
(a) references to the PRA in that Part were omitted;
(b) each reference in that Part to either regulator were a reference to the FCA only;
(c) in section 387 (warning notices), subsections (1A) and (3A) were omitted;
(d) in section 388 (decision notices), subsections (1A) and (2) were omitted;
(e) in section 390 (final notices), in subsection (6) for “section 384(5)” there were substituted “regulation 29 of the Small and Medium Sized Business (Finance Platforms) Regulations 2015”;
(f) in section 391 (publication)—
(i) in subsection (1) for “falling within subsection (1ZB)” there were substituted “given under regulation 36 of the Small and Medium Sized Business (Finance Platforms) Regulations 2015”;
(ii) subsections (1ZA), (1ZB), (4A), (5), (5A), (6A), (7A), (7B), (8A), (8), (10) and (11) were omitted;
(g) section 391A were omitted;
(h) for section 392(a) and (b) (application of sections 393 and 394) there were substituted—
“(a) a warning notice given in accordance with regulation 36 of the Small and Medium Sized Business (Finance Platforms) Regulations 2015;
(b) a decision notice given in accordance with regulation 37 of those Regulations.”
(i) in section 395 (the FCA’s and PRA’s procedures)—
(i) for subsections (1) and (2) there were substituted—
“(1) The FCA must determine the procedure that it proposes to follow in relation to a decision which gives rise to an obligation for it to give a warning notice or decision notice.
(2) That procedure must be designed to secure, among other things, that a decision falling within subsection (1) is taken—
(a) by a person not directly involved in establishing the evidence on which the decision is based, or
(b) by two or more persons who include a person not directly involved in establishing that evidence.”;
(ii) subsections (3), (4), (9A) and (13) were omitted, and
(iii) in subsection (9), there were omitted “supervisory notice, or a” and “other than a warning notice or decision notice relating to a decision of the PRA that is required by a decision of the FCA of the kind mentioned in subsection (1)(b)(ii)”.

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Source: https://www.legislation.gov.uk/ukdsi/2015/9780111138939/regulation/41 (the official version)
Page: https://openlegislation.uk/draft-small-and-medium-sized-business-finance-platforms-regulations-2015/regulation-41
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.