Paragraph 2 I1
The Board must give the approved regulator a notice (“a warning notice”) accompanied by a draft of the proposed recommendation.
The warning notice must—
state that the Board proposes to make a recommendation under subsection (5) of section 45 in the form of the accompanying draft, and
state the reasons why the Board is satisfied of the matters mentioned in paragraphs (a) and (b) of that subsection.
The Board must publish a copy of the warning notice.
The approved regulator may make to the Board—
written representations, and
if the Board authorises it to do so, oral representations,
about the proposed recommendation.
The Board must make rules governing the making of oral and written representations.
Representations under this paragraph must be made within—
the period of 28 days beginning with the day on which the warning notice is given to the approved regulator, or
such longer period as the Board may specify in a particular case.
The Board must consider any representations duly made by the approved regulator.
Where oral representations are duly made, the Board must prepare a report of those representations.
Before preparing that report, the Board must—
give the approved regulator a reasonable opportunity to comment on a draft of the report, and
have regard to any comments duly made.
Annotations
Commencement
- I1
Sch. 9 para. 2 wholly in force at 1.1.2010; Sch. 9 para. 2 not in force at Royal Assent see s. 211; Sch. 9 para. 2(5) in force at 1.1.2009 by S.I. 2008/3149, art. 2(c)(iv); Sch. 8 para. 2 in force otherwise at 1.1.2010 by S.I. 2009/3250, art. 2(c)(ii) (with art. 9)