Article 20 Written notices

(1)

Paragraph (2) applies where, before the commencement date, the Authority gave a written notice under—

(a)

section 53(4), (7) or (8)(b) (exercise of own-initiative power: procedure);

(b)

section 197(3), (6) or (7)(b) (procedure on exercise of power of intervention);

(c)

section 200(2) (rescission and variation of requirements).

(2)

The FCA may make a transfer election (see article 24) in relation to the whole or part of the written notice provided that, before the transfer election is made—

(a)

the written notice was not referred to the Tribunal; or

(b)

where the written notice was referred to the Tribunal—

(i)

the Tribunal remitted the matter to the Authority without an appeal being made in relation to the determination of the Tribunal, or

(ii)

if such an appeal was brought, it was determined, and

the FCA had not taken action in reliance on the written notice or given a further written notice.