OpenLegislation

Article 49 Notice by the Regulator of proposed directionI1I2

England, Wales and Scotland

(1)

This article applies where the Regulator—

(a)

notified a relevant person under regulation 29(4) of the 2006 Regulationsf1 (directions of the Regulator about complaints handling and related matters) of a direction that the Regulator proposed to give under paragraph (3) of that regulation; and

(b)

on 1st April 2019, has not given the proposed direction.

(2)

The Regulator’s notice is to be treated as written notice given by the FCA under section 55Y(4) of the 2000 Act, and for this purpose—

(a)

subsection (2) of that section does not apply to the notice;

(b)

the notice is taken to comply with subsection (5) of that section; and

(c)

the notice is to be read—

(i)

as if a reference to the Regulator were a reference to the FCA; and

(ii)

with any other necessary modifications.

Annotations

Commencement

I1

Art. 49 in force at 29.11.2018 for specified purposes, see art. 1(2)

I2

Art. 49 in force at 1.4.2019 in so far as not already in force, see art. 1(3)

Footnotes

f1

Regulation 29(4) was amended by S.I. 2015/42.