Section 261Z2 Procedure: refusal to revoke or vary directionF1
If on an application under section 261X(6) for a direction to be revoked or varied the FCA proposes—
to vary the direction otherwise than in accordance with the application, or
to refuse to revoke or vary the direction,
it must give the applicant a warning notice.
If the FCA decides to refuse to revoke or vary the direction—
it must give the applicant a decision notice; and
the applicant may refer the matter to the Tribunal.
Annotations
Textual amendments
- F1
Pt. 17 Ch. 3A inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(12) (with reg. 24)
Notes on Part XVII
Modifications
- C1
Pt. 17 modified (20.2.2019) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(3), 62 (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 12(b))