{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-396",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-396.json",
  "legislation": "ukpga/2000/8",
  "legislation_title": "Financial Services and Markets Act 2000",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
  "path": "section/396",
  "kind": "section",
  "number": "396",
  "heading": "Statements under section 395: consultation.",
  "text": "(1) Before issuing a statement of its procedure under section 395, the regulator must publish a draft of the proposed statement in the way appearing to it to be best calculated to bring the draft to the attention of the public.\n(2) The draft must be accompanied by notice that representations about the proposal may be made to the regulator publishing the draft within a specified time.\n(3) Before a regulator issues the proposed statement of its procedure, it must have regard to any representations made to it in accordance with subsection (2).\n(4) If the regulator issues the proposed statement of its procedure, it must publish an account, in general terms, of—\n(a) the representations made to it in accordance with subsection (2); and\n(b) its response to them.\n(5) If the statement of the regulator's procedure differs from the draft published by it under subsection (1) in a way which is , in its opinion, significant, it must (in addition to complying with subsection (4)) publish details of the difference.\n(6) The regulator publishing a draft under subsection (1) may charge a reasonable fee for providing a person with a copy of the draft.\n(7) This section also applies to a proposal to revise a statement of policy.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 396(1) inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(2)(a) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 396(1) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(2)(b) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in s. 396(1) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(2)(c) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 396(1) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(2)(d) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 396(2) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 396(3) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(4) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 396(4) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(5) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 396(5) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(6)(a) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 396(5) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(6)(b) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in s. 396(5) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(6)(c) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 396(6) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(7)(a) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in s. 396(6) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 35(7)(b) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 396 applied (with modifications) (14.1.2025 for specified purposes, 13.7.2026 in so far as not already in force) by The Short Selling Regulations 2025 (S.I. 2025/29), regs. 2(2)(3), 24, 25, 26, Sch. 1 Pts. 1, 2, 3; S.I. 2026/587, reg. 2(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/section/396",
    "retrieved_at": "2026-10-29T09:21:21.899993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}