C1F2Part 18ASUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING
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)
313BBF1Revocation of requirements: applications by institutions
1
This section applies where the F3FCA has imposed a requirement on an institution or a class of institutions under section 313A.
2
The institution or any of the institutions in the class may apply to the F3FCA for the revocation of the requirement.
3
The F3FCA must decide whether to revoke the requirement.
4
In the case of a requirement imposed on a class of institutions, the F3FCA may decide to revoke it in relation to—
a
the class;
b
the class apart from one or more specified members of it; or
c
one or more specified members of the class only.
5
The F3FCA must give a warning notice if—
a
in the case of a requirement imposed on an institution, the F3FCA proposes not to revoke the requirement, or
b
in the case of a requirement imposed on a class, the F3FCA proposes to make a decision which would have the effect that the requirement continues to apply to the applicant (whether or not it would have the effect that it continues to apply to other members of the class).
6
The warning notice must be given to—
a
the applicant, and
b
the issuer of the financial instrument in question (if any).
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