OpenLegislation

Paragraph 8 Warning notices and decision notices

United Kingdom

Part 26 of the 2000 Act (notices) applies with the following modifications—

F1(za)

in section 387 (warning notices), omit subsections (1A) and (3A);

(a)

in section 388 (decision notices), F2omit subsections (1A) and (2);

(b)

in section 390 M1 (final notices)—

(i)

omit subsections (6) and (10); and

(ii)

in subsection (8) omit “or (6)(c)”;

(c)

in section 391 (publication)—

F3(iza)

for subsection (1ZB) substitute—

“(1ZB)

A warning notice falls within this subsection if it is given under—

(a)

section 67;

(b)

section 345B;

(c)

regulation 10 of the Electronic Money Regulations 2011 (including regulation 10 as applied by regulation 15 of those Regulations);

(d)

regulation 29 of those Regulations;

(e)

regulation 35 of those Regulations;

(f)

regulation 53 of those Regulations; or

(g)

regulation 56 of those Regulations.”;

(izb)

omit subsection (6A);

(i)

in subsection (10) for “has the same meaning as in section 395” substitute “ means a notice given under regulation 11(6), (9) or (10)(b) (including as applied by regulation 15) of F4, or paragraph 4 of Schedule 4A to, the Electronic Money Regulations 2011 ”; and

(ii)

omit subsection (11).

(d)

for section 392 M2 (application of sections 393 and 394) substitute—

“392

Sections 393 and 394 apply to—

(a)

a warning notice given in accordance with regulations 10(4) (including as applied by regulation 15), 29(2) (in relation to the cancellation of a registration), 35(2), 53(1) or 56(1) of the Electronic Money Regulations 2011;

(b)

a decision notice given in accordance with regulations 10(5)(a) (including as applied by regulation 15), 29(3)(a) (in relation to the cancellation of a registration), 35(3)(a), 53(3) or 56(3) of the Electronic Money Regulations 2011.”; and

(e)

in section 395 F5(the FCA’s and PRA’s procedures) in subsection (13) for “in accordance with” to the end substitute “ under regulation 11(6), (9) or (10)(b) (including as applied by regulation 15) of F6, or paragraph 4 of Schedule 2A to, the Electronic Money Regulations 2011. ”.

Annotations

Textual amendments

F1

Sch. 3 para. 8(za) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(i)

F2

Words in Sch. 3 para. 8(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(ii)

F3

Sch. 3 para. 8(c)(iza)(izb) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(iii)(aa)

F4

Words in Sch. 3 para. 8(c)(i) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 18(4)(c)(i)

F5

Words in Sch. 3 para. 8(e) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h)(iv)

F6

Words in Sch. 3 para. 8(e) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 18(4)(c)(ii)

Marginal citations

M1

Amended by S.I. 2010/22.

M2

Section 392 was amended by sections 24 and 29 of, and Schedule 2 to, the Financial Services Act 2010.