The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc. ) Order 2001

Final view notices U.K.

58.—(1) Where a scope of permission notice has been given to a person and either—

(a) he notifies the Authority that he disagrees with any of the matters stated in the notice; or

(b) he fails to notify the Authority as required by article 56(2),

the Authority must within a reasonable period after receiving the notification or the expiry of the period allowed for notification (whichever is earlier) give the person a further notice (a “final view notice”).

(2) A final view notice must set out the Authority’s final view on—

(a) the regulated activity or activities the Authority considers the person has a Part IV permission to carry on at commencement, described in such manner as the Authority considers appropriate; and

(b) the requirements (if any) under section 43 to which he is subject at commencement.

(3) Article 55(4) to (6) applies to a final view notice as it applies to a scope of permission notice.

(4) The person may refer the final view notice to the Tribunal.

(5) A final view notice must be in writing and must give an indication of the person’s right to have the matter referred to the Tribunal and of the procedure on such a reference.

(6) Sections 133 and 137 apply in relation to a reference under this article, but as if—

(a) the reference in section 133(1) to the Act were a reference to this article;

(b) the reference in section 133(1)(a) to the decision notice or supervisory notice were a reference to the final view notice; and

(c) section 133(4) to (12) were omitted.

Commencement Information

I1 Art. 58 in force at 10.8.2001, see art. 1(2)(a)