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Part XXVIU.K. Notices

Modifications etc. (not altering text)

C1Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 58A(6)(8) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 75 (with art. 13(3), Sch.5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 85(4B) (as inserted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 95 (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 36A(5C)(5D) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 142(c) (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 46A(6)(8) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 148 (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 93(6A) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 177(d) (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2

C4Pt. 26 applied (with modifications) (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 5

C5Pt. 26 applied (with modifications) (7.6.2010) by The Credit Rating Agencies Regulations 2010 (S.I. 2010/906), reg. 30

C6Pt. 26 applied (with modifications) (9.2.2011 for certain purposes and 30.4.2011 otherwise) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(a)(xiv)(b), 62, Sch. 3 para. 8 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h))

C10Pt. 26 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(11)

Third party rights and access to evidenceU.K.

392 Application of sections 393 and 394.U.K.

Sections 393 and 394 apply to—

(a)a warning notice given in accordance with section [F155Z(1)], 57(1), 63(3), [F263B(1),] 67(1), 88(4)(b), [F3section 88B(1),] 92(1), 126(1), [F4131H(1),] [F5192L(1),] 207(1), 255(1), [F6261V(1),] 280(1), [F7section 312G(1),] 331(1), [F8345B(1) (whether as a result of section 345(2), 345A(3)] or section 249(1) [F9or 261K(1)]) [F10, 385(1) or 412B(4) or (8)];

(b)a decision notice given in accordance with section [F1155Z(2)], 57(3), 63(4), [F1263B(3),] 67(4), 88(6)(b), [F13section 88B(5),] 92(4), 127(1), [F14131H(4),] [F15192L(4),] 208(1), 255(2), [F16261V(2),] 280(2), [F17section 312H(1),] 331(3), [F18345B(4) (whether as a result of section 345(2), 345A(3)] or section 249(1) [F19or 261K(1)]) [F20, 386(1) or 412B(5) or (9)].

Textual Amendments

F3Words in s. 392 substituted (19.3.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 18(5)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.; S.I. 2013/651, art. 2(a)

F7Words in s. 392(a) inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 37(a) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.

F8Words in s. 392(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 8(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F13Words in s. 392 substituted (19.3.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 18(5)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.; S.I. 2013/651, art. 2(a)

F17Words in s. 392(b) inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 37(b) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.

Modifications etc. (not altering text)

C11S. 392(a) excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 46(2), 47(2), 48(2), 52(4), 55(2) (with art. 23(2))

393 Third party rights.U.K.

(1)If any of the reasons contained in a warning notice to which this section applies relates to a matter which—

(a)identifies a person (“the third party”) other than the person to whom the notice is given, and

(b)in the opinion of the [F21regulator giving the notice], is prejudicial to the third party,

a copy of the notice must be given to the third party.

(2)Subsection (1) does not require a copy to be given to the third party if the [F22regulator giving the notice] —

(a)has given him a separate warning notice in relation to the same matter; or

(b)gives him such a notice at the same time as it gives the warning notice which identifies him.

(3)The notice copied to a third party under subsection (1) must specify a reasonable period (which may not be less than [F2314 days]) within which he may make representations to [F24the regulator giving the notice].

(4)If any of the reasons contained in a decision notice to which this section applies relates to a matter which—

(a)identifies a person (“the third party”) other than the person to whom the decision notice is given, and

(b)in the opinion of [F25the regulator giving the notice], is prejudicial to the third party,

a copy of the notice must be given to the third party.

(5)If the decision notice was preceded by a warning notice, a copy of the decision notice must (unless it has been given under subsection (4)) be given to each person to whom the warning notice was copied.

(6)Subsection (4) does not require a copy to be given to the third party if [F26the regulator giving the notice]—

(a)has given him a separate decision notice in relation to the same matter; or

(b)gives him such a notice at the same time as it gives the decision notice which identifies him.

(7)Neither subsection (1) nor subsection (4) requires a copy of a notice to be given to a third party if [F27the regulator giving the notice] considers it impracticable to do so.

(8)Subsections (9) to (11) apply if the person to whom a decision notice is given has a right to refer the matter to the Tribunal.

(9)A person to whom a copy of the notice is given under this section may refer to the Tribunal—

(a)the decision in question, so far as it is based on a reason of the kind mentioned in subsection (4); or

(b)any opinion expressed by [F28the regulator giving the notice] in relation to him.

(10)The copy must be accompanied by an indication of the third party’s right to make a reference under subsection (9) and of the procedure on such a reference.

(11)A person who alleges that a copy of the notice should have been given to him, but was not, may refer to the Tribunal the alleged failure and—

(a)the decision in question, so far as it is based on a reason of the kind mentioned in subsection (4); or

(b)any opinion expressed by [F29the regulator giving the notice] in relation to him.

(12)Section 394 applies to a third party as it applies to the person to whom the notice to which this section applies was given, in so far as the material [F30to which access must be given] under that section relates to the matter which identifies the third party.

(13)A copy of a notice given to a third party under this section must be accompanied by a description of the effect of section 394 as it applies to him.

(14)Any person to whom a warning notice or decision notice was copied under this section must be given a copy of a notice of discontinuance applicable to the proceedings to which the warning notice or decision notice related.

Textual Amendments

F21Words in s. 393(1)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 32(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F25Words in s. 393(4)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 32(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F28Words in s. 393(9)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 32(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F29Words in s. 393(11)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 32(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F30Words in s. 393(12) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 32(5) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Modifications etc. (not altering text)

C12S. 393 applied (1.12.2001) by S.I. 2001/1228, regs. 1(2)(c), 24(3) (with reg. 1(2)(3)); S.I. 2001/3538, art. 2(1)

S. 393 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 38(2), 46(2), 47(2), 48(2), 52(4), 55(2) (with art. 23(2))

C16S. 393(1) extended (1.12.2001) by S.I. 2001/3592, arts. 1(2), 36(4) (with art. 23(2))

394 Access to [F31FCA or PRA] material.U.K.

(1)If [F32a regulator] gives a person (“A”) a notice to which this section applies, it must—

(a)allow him access to the material on which it relied in taking the decision which gave rise to the obligation to give the notice;

(b)allow him access to any secondary material which [F33, in the regulator's opinion,] might undermine that decision.

(2)But [F34the regulator giving the notice] does not have to allow A access to material under subsection (1) if the material is excluded material or it—

(a)relates to a case involving a person other than A; and

(b)was taken into account by [F34the regulator giving the notice] in A’s case only for purposes of comparison with other cases.

(3)[F35The regulator giving the notice] may refuse access A to particular material which it would otherwise have to allow him access to if, in its opinion, allowing him access to the material—

(a)would not be in the public interest; or

(b)would not be fair, having regard to—

(i)the likely significance of the material to A in relation to the matter in respect of which he has been given a notice to which this section applies; and

(ii)the potential prejudice to the commercial interests of a person other than A which would be caused by the material’s disclosure.

(4)If [F36the regulator giving the notice] does not allow A access to material because it is excluded material consisting of a protected item, it must give A written notice of—

(a)the existence of the protected item; and

(b)[F37the regulator's] decision not to allow him access to it.

(5)If [F38the regulator giving the notice] refuses under subsection (3) to allow A access to material, it must give him written notice of—

(a)the refusal; and

(b)the reasons for it.

(6)“Secondary material” means material, other than material falling within paragraph (a) of subsection (1) which—

(a)was considered by [F39the regulator giving the notice] in reaching the decision mentioned in that paragraph; or

(b)was obtained by [F40the regulator giving the notice in connection with the matter to which that notice] relates but which was not considered by it in reaching that decision.

(7)“Excluded material” means material which—

[F41(a)is material the disclosure of which for the purposes of or in connection with any legal proceedings is prohibited by section 17 of the Regulation of Investigatory Powers Act 2000; or]

(c)is a protected item (as defined in section 413).

Textual Amendments

F31Words in s. 394 heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 33(8) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F33Words in s. 394(1)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 33(2)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F39Words in s. 394(6)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 33(7)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F40Words in s. 394(6)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 33(7)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F41S. 394(7)(a) substituted (2.10.2000) for s. 394(7)(a)(b) by 2000 c. 23, s. 82, Sch. 4 para. 11 (with s. 82(3)); S.I. 2000/2543, art. 3

Modifications etc. (not altering text)

C17S. 394 applied (1.12.2001) by S.I. 2001/1228, regs. 1(2)(c), 24(3) (with reg. 1(2)(3)); S.I. 2001/3538, art. 2(1)

S. 394 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 36(3), 38(2), 46(2), 47(2), 48(2), 52(4), 55(2) (with art. 23(2))