Financial Services and Markets Act 2000 (c. 8)

Part XVII U.K. Collective Investment Schemes

Chapter III U.K. Authorised Unit Trust Schemes

Powers of intervention U.K.

260 Procedure: refusal to revoke or vary direction. U.K.

(1) If on an application under section 257(6) for a direction to be revoked or varied the [F1 FCA] proposes—

(a) to vary the direction otherwise than in accordance with the application, or

(b) to refuse to revoke or vary the direction,

it must give the applicant a warning notice.

(2) If the [F1 FCA] decides to refuse to revoke or vary the direction—

(a) it must give the applicant a decision notice; and

(b) the applicant may refer the matter to the Tribunal.

Textual Amendments

F1 Word in ss. 254-262 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1 S. 260 wholly in force at 1.12.2001; s. 260 not in force at Royal Assent see s. 431(2); s. 260 in force for specified purposes at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2; s. 260 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)