[F1[F387DProcedure for decision [F2to refuse an] application for approvalU.K.
F4(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F5(1A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)If the [F6FCA] proposes to refuse to approve a prospectus, it must give the applicant written notice.
(3)The notice must state the [F6FCA's] reasons for the proposed refusal.
(4)If the [F6FCA] decides to refuse to approve a prospectus, it must give the applicant written notice.
(5)The notice must—
(a)give the [F6FCA's] reasons for refusing the application; and
(b)inform the applicant of his right to refer the matter to the Tribunal.
(6)If the [F6FCA] refuses to approve a prospectus, the applicant may refer the matter to the Tribunal.
(7)In this section “prospectus” includes a supplementary prospectus.]]
Textual Amendments
F1 Ss. 84-87R and cross-headings substituted for ss. 84-87 (1.7.2005) by The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(1), Sch. 1 para. 5
F2Words in s. 87D heading substituted (21.7.2019) by The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (S.I. 2019/1043), regs. 1(1), 12(2) (with reg. 40)
F3Ss. 86-87O omitted (30.1.2024 for specified purposes) by virtue of The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), reg. 2(2)(3), Sch. 3 para. 7 (with regs. 48-50)
F4S. 87D(1) omitted (21.7.2019) by virtue of The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (S.I. 2019/1043), regs. 1(1), 12(3) (with reg. 40)
F5S. 87D(1A) omitted (21.7.2019) by virtue of The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019 (S.I. 2019/1043), regs. 1(1), 12(3) (with reg. 40)
F6Words in ss. 87B-87D substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 16(2)(3)(c), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.