The Electronic Commerce Directive (Financial Services and Markets) Regulations 2002

[F1 Article 72A of the Regulated Activities Order U.K.

11C.— (1) If the condition in regulation 11B(2) is met, the Authority may make a determination that article 72A(1) of the Regulated Activities Order does not apply to an activity carried on by an incoming provider.

(2) If the Authority proposes to make a determination under paragraph (1), it must give the incoming provider a warning notice specifying the activity.

(3) If the Authority decides to make a determination under paragraph (1), it must give the incoming provider a decision notice specifying the activity.

(4) An incoming provider who is aggrieved by a determination made under this regulation may refer the matter to the Upper Tribunal.

(5) Part 26 (notices) of the 2000 Act applies in relation to notices given under this regulation, as if—

(a) in section 390 (final notices), after paragraph (6), there were inserted—

“(6A) A final notice about a determination under regulation 11C of the Electronic Commerce Directive (Financial Services) Regulations 2002 must state—

(a) the activity to which it relates, and

(b) the date on which the determination comes into effect.”;

(b) section 392 applied sections 393 (third party rights) and 394 (access to FCA or PRA material) to—

(i) a warning notice given in accordance with paragraph (2);

(ii) a decision notice given in accordance with paragraph (3);

(c) sections 395 (the FCA’s and PRA’s procedures) and 396 (statements under section 395: consultation) were omitted.]

Textual Amendments

F1 Pt. 3A inserted (24.3.2015) by The Electronic Commerce Directive (Financial Services and Markets) (Amendment) Order 2015 (S.I. 2015/852), arts. 1(2), 2(2)