Financial Services and Markets Act 2000

[F1[F1133A Proceedings before Tribunal: decision and supervisory notices, etc.U.K.

This section has no associated Explanatory Notes

(1)In determining a reference made (whether under this or any other Act) as a result of a decision notice given by the Authority, the Tribunal may not direct the Authority to take action which the Authority would not, as a result of section 388(2), have had power to take when giving the notice.

(2)In determining a reference made as a result of a supervisory notice given by the Authority, the Tribunal may not direct the Authority to take action which would have otherwise required the giving of a decision notice.

(3)In subsection (2) “supervisory notice” has the same meaning as in section 395.

(4)The Authority must not take the action specified in a decision notice—

(a)during the period within which the matter to which the notice relates may be referred to the Tribunal (whether under this or any other Act); and

(b)if the matter is so referred, until the reference, and any appeal against the Tribunal's determination, has been finally disposed of.

(5)The Tribunal may, on determining a reference (whether made under this or any other Act) in respect of a decision of the Authority, make recommendations as to the Authority's regulating provisions or its procedures.]]

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