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Section 275 Determination of applications.I1C1C2

C3(1)

An application under section 272 must be determined by the F1FCA before the end of the period of six months beginning with the date on which it receives the completed application.

(2)

The FCA may determine an incomplete application if it considers it appropriate to do so; and it must in any event determine such an application within twelve months beginning with the date on which it first receives the application.

(3)

If the FCA makes an order under section 272(1), it must give written notice of the order to the applicant.

Annotations

Textual amendments

F1

Word in ss. 271-283B substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Modifications

C1

S. 275 modified (20.2.2019) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(3), 68

C2

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))

C3

S. 275(1)(2) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 44(2)(3) (with art. 23(2))

Commencement

I1

S. 275 wholly in force at 1.12.2001; s. 275 not in force at Royal Assent see s. 431(2); s. 275 in force for specified purposes at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2; s. 275 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)