Section 313BE Decisions on applications for revocation by issuersF1F2
This section applies where, having considered any representations made in response to a warning notice, the F3FCA has decided whether to grant an application for revocation made under section 313BD.
The FCA must give written notice to the issuer if the FCA decides to revoke the requirement.
If the FCA is required to give written notice under subsection (2) in relation to a requirement imposed on a class, the FCA must also give notice of its decision by publishing it by means of a regulatory information service.
The FCA must give the issuer a decision notice if—
in the case of a requirement imposed on an institution, the FCA decides not to revoke the requirement, or
in the case of a requirement imposed on a class, the FCA decides not to revoke the requirement or makes a decision to revoke the requirement in relation to—
the class apart from one or more specified members of it, or
one or more specified members of the class only.
If the FCA is required to give a decision notice under subsection (4)(b), it must also give notice of its decision by publishing it by means of a regulatory information service.
If the FCA gives a decision notice under subsection (4), the issuer may refer the matter to the Tribunal.
Annotations
Textual amendments
- F1
Pt. 18A inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(3), Sch. 3 para. 1
- F2
Ss. 313BA-313BE inserted (9.4.2010) by The Financial Services and Markets Act 2000 (Amendments to Part 18A etc.) Regulations 2010 (S.I. 2010/1193), reg. 4
- F3
Word in Pt. 18A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 36(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Notes on Part 18A
Modifications
- C1
Pt. 18A: power to amend conferred (1.9.2023) by Financial Services Act 2021 (c. 22), ss. 22(8)(b), 49(5); S.I. 2023/934, reg. 2(c)