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Financial Services and Markets Act 2000
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Changes over time for: Section 200
Version Superseded: 31/12/2020
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Status:
Point in time view as at 21/07/2018. This version of this provision has been superseded.
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Financial Services and Markets Act 2000, Section 200 is up to date with all changes known to be in force on or before 07 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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200 Rescission and variation of requirements.U.K.
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adran has no associated
Nodiadau Esboniadol
(1)[F1Either regulator] may rescind or vary a requirement imposed in exercise of its power of intervention on its own initiative or on the application of the person subject to the requirement.
(2)The power of [F2either regulator] on its own initiative to rescind a requirement is exercisable by written notice given by [F3the regulator] to the person concerned, which takes effect on the date specified in the notice.
(3)Section 197 applies to the exercise of the power of the [F4regulator] on its own initiative to vary a requirement as it applies to the imposition of a requirement.
(4)If the [F5regulator] proposes to refuse an application for the variation or rescission of a requirement, it must give the applicant a warning notice.
(5)If [F6either regulator] decides to refuse an application for the variation or rescission of a requirement—
(a)[F7the regulator] must give the applicant a decision notice; and
(b)that person may refer the matter to the Tribunal.
Textual Amendments
F1Words in s. 200(1) substituted (27.2.2013 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. 4 para. 41(2) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F2Words in s. 200(2) substituted (27.2.2013 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. 4 para. 41(3)(a) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F3Words in s. 200(2) substituted (27.2.2013 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. 4 para. 41(3)(b) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F4Word in s. 200(3) substituted (27.2.2013 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. 4 para. 41(4) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F5Word in s. 200(4) substituted (27.2.2013 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. 4 para. 41(4) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F6Words in s. 200(5) substituted (27.2.2013 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. 4 para. 41(5)(a) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F7Words in s. 200(5)(a) substituted (27.2.2013 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. 4 para. 41(5)(b) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
Modifications etc. (not altering text)
C1S. 200 extended (1.12.2001) by S.I. 2001/3592, arts. 1(2), 4(2) (with art. 23(2))
C2S. 200 applied (with modifications) by S.I. 2013/440, art. 7(2A) (as inserted (1.9.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 3) Order 2013 (S.I. 2013/1765), arts. 1, 11(3)(b))
C3S. 200(2)-(5) excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 61(4), 110(5), 115(4) (with art. 23(2))
C4S. 200(5)(a) extended (1.12.2001) by S.I. 2001/3592, arts. 1(2), 7(3)(4) (with art. 23(2))
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