58 Applications relating to prohibitions: procedure and right to refer to Tribunal.U.K.
(1)This section applies to an application for the variation or revocation of a prohibition order.
(2)If the [F1appropriate regulator] decides to grant the application, it must give the applicant written notice of its decision.
(3)If the [F1appropriate regulator] proposes to refuse the application, it must give the applicant a warning notice.
(4)If the [F1appropriate regulator] decides to refuse the application, it must give the applicant a decision notice.
(5)If the [F1appropriate regulator] gives the applicant a decision notice, he may refer the matter to the Tribunal.
[F2(6)The appropriate regulator” means the regulator to which the application is made.]
Textual Amendments
F1Words in s. 58(2)-(5) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 2(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2S. 58(6) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 2(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Modifications etc. (not altering text)
C1S. 58 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 110(3) (with art. 23(2))
C2Ss. 56-58 applied (with modifications) (31.12.2011) by The Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832), art. 8
C3S. 58 applied (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), regs. 1(2), 12(2)
Commencement Information
I1S. 58 wholly in force at 1.12.2001; s. 58 not in force at Royal Assent see s. 431(2); s. 58 in force for specified purposes at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2; s. 58 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)