Article 5 Amendments to the Tribunal Procedure (Upper Tribunal) Rules 2008

In rule 5 (case management powers) after paragraph (4) insert—

“(5)

In a financial services case, the Upper Tribunal may direct that the effect of the decision in respect of which the reference has been made is to be suspended pending the determination of the reference, if it is satisfied that to do so would not prejudice—

(a)

the interests of any persons (whether consumers, investors or otherwise) intended to be protected by that notice; or

(b)

the smooth operation or integrity of any market intended to be protected by that notice.

(6)

Paragraph (5) does not apply in the case of a reference in respect of a decision of the Pensions Regulator.”.