The Risk Transformation Regulations 2017 No. 1212

PART 4 U.K. Protected Cell Companies

CHAPTER 2 U.K. Registration

SECTION 2 U.K. Amendments to registration

Procedure when refusing approval of proposed amendment U.K.

28.—(1) If the FCA proposes to refuse approval, it must give the protected cell company a warning notice.

(2) To be valid, the warning notice must be received by the protected cell company within a period of six weeks beginning with the date on which written notice was given to the FCA in accordance with regulation 27(1).

(3) If the FCA decides to refuse approval—

(a) the FCA must give the protected cell company a decision notice; and

(b) the protected cell company may refer the matter to the Tribunal.