# The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001, Article 14: Notices under the Banking Act

Extent: E+W+S+N.I.

(1) Where, before commencement—
(a) a notice has been given under section 13(1) of the Banking Act of intention to revoke an authorisation;
(b) the Authority has not given a notice under section 13(7) of the Banking Act (and is not treated as having given such a notice by reason of subsection (10) of that section),
the notice has effect after commencement as if it were a notice given under section 53(4) that the Authority proposes to vary the authorised person’s permission by imposing a requirement that he refrain from carrying on the regulated activity or activities covered by the notice.
(2) Where, before commencement—
(a) a notice was given under section 13(1) of the Banking Act of intention to impose a restriction or to vary a restriction;
(b) the Authority has not given a notice under section 13(7) of the Banking Act (and is not treated as having given such a notice by reason of subsection (10) of that section),
the notice has effect after commencement as if it were a notice given under section 53(4) that the Authority proposes to vary the authorised person’s permission by imposing or varying a requirement having the same effect as the restriction or variation described in the notice.
(3) Where, before commencement—
(a) a notice had been given under section 14(2) of the Banking Act imposing or varying a restriction as a matter of urgency pursuant to section 14(1)(b) of that Act;
(b) no notice under subsection (7) of section 14 of the Banking Act has been given,
that notice has effect after commencement as if it were a notice given under section 53(4) that the Authority has varied the authorised person’s permission with immediate effect by imposing a restriction or varying the restriction in the manner set out in the notice.

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Source: https://www.legislation.gov.uk/uksi/2001/3592/article/14 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-transitional-provisions-partly-completed-procedures-order-2001/article-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.