Regulation 16 Cancellation or variation: procedureI1

In an urgent case, if the FCA decides to exercise the power under regulation 15(1), it must give a decision notice to the relevant incoming provider to whom the decision relates.

A decision notice under paragraph (1) must state when the decision takes effect (and this may be immediately upon receipt).

In any other case—

Part 26 of the 2000 Act (notices) applies to a notice under paragraph (3) as it applies to a notice given under that Act.

For the purposes of this regulation, an urgent case is one in which the FCA reasonably considers it necessary for the decision to take effect as stated in the decision notice.