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The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019
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The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019, Section 16 is up to date with all changes known to be in force on or before 03 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
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16.—(1) In an urgent case, if the FCA decides to exercise the power under regulation 15(1), it must give a decision notice to the relevant incoming provider to whom the decision relates.
(2) A decision notice under paragraph (1) must state when the decision takes effect (and this may be immediately upon receipt).
(3) In any other case—
(a)if the FCA proposes to exercise the power under regulation 15(1), it must give the provider a warning notice specifying the activity;
(b)if the FCA decides to exercise the power under regulation 15(1), it must give the provider a decision notice specifying the activity.
(4) Part 26 of the 2000 Act (notices) applies to a notice under paragraph (3) as it applies to a notice given under that Act.
(5) For the purposes of this regulation, an urgent case is one in which the FCA reasonably considers it necessary for the decision to take effect as stated in the decision notice.
Commencement Information
I1Reg. 16 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2) (as amended by S.I. 2019/1390, regs. 1(2), 6)
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