Article 29 Cancellation of permission under Part 4: notices given by the Authority

(1)

Paragraph (2) applies where, before the commencement date, the Authority—

(a)

gave a warning notice under section 54(1) (cancellation of Part 4 permission: procedure); and

(b)

had not given a decision notice or a notice of discontinuance following that warning notice.

(2)

The warning notice is to be treated as if it had been given by the relevant regulator under section 55Z(1) (cancellation of Part 4A permission: procedure).

(3)

Paragraph (4) applies where, before the commencement date, the Authority—

(a)

gave a decision notice under section 54(2); and

(b)

had not given a final notice or a notice of discontinuance following that decision notice.

(4)

The decision notice is to be treated as if it had been given by the relevant regulator under section 55Z(2).

(5)

In this article, the “relevant regulator” means the FCA unless the FCA makes a transfer election in accordance with this Order in relation to the relevant notice.