F1SCHEDULE 3Redress Schemes
Withdrawal of approval by the F2lead enforcement authority
10
The F3lead enforcement authority may withdraw approval of a redress scheme which is for the time being approved by it.
11
Before withdrawing approval of a scheme, the F4lead enforcement authority must give the scheme administrator a notice stating—
(a)
that it proposes to withdraw its approval;
(b)
the grounds for the proposed withdrawal of approval; and
(c)
that representations about the proposed withdrawal may be made within such period of not less than 30 days as is specified in the notice.
12
The F5lead enforcement authority must give the scheme administrator a notice stating—
(a)
its decision on a proposal to withdraw approval; and
(b)
the reasons for its decision.
13
If the F6lead enforcement authority decides to withdraw approval of a scheme—
(a)
the withdrawal has effect from such date as may be specified in the notice under paragraph 12;
(b)
the scheme administrator must give a copy of the notice under paragraph 12 to every member of the scheme.