Financial Services and Markets Act 2000

X1 188 Notices of objection under section 187: procedure. U.K.

(1) If the Authority proposes to give a notice of objection to a person under section 187, it must give him a warning notice.

(2) Before doing so, the Authority must comply with such requirements as to consultation with competent authorities outside the United Kingdom as may be prescribed.

(3) If the Authority decides to give a warning notice under this section, it must do so before the end of the period of three months beginning—

(a) in the case of a notice to be given under section 187(1), with the date on which it became aware of the failure to comply with the duty in question;

(b) in the case of a notice to be given under section 187(3), with the date on which it became aware of the matters in question.

(4) The Authority may require the person concerned to provide such additional information or documents as it considers reasonable.

(5) Different requirements may be imposed in different circumstances.

(6) In this Part “notice of objection” means a notice under section 186 or 187.

Editorial Information

X1 The substitution of ss. 178-191G for ss. 178-191 on 21.3.2009 which involves the insertion of several new headings in Pt. XII gives rise to a change in the structure of this legislation on SLD which breaks the continuity of historical versions of the existing provisions which are now brought under those new headings.

Modifications etc. (not altering text)

C1 S. 188 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 110(4), 115(3) (with art. 23(2))

C2 S. 188(1) extended (1.12.2001) by S.I. 2001/2637, arts. 1, 8(1), 11(1); S.I. 2001/3538, art. 2(1)

C3 S. 188(3) applied (with modifications) (1.12.2001) by S.I. 2001/2637, arts. 1, 7(2); S.I. 2001/3538, art. 2(1)

Commencement Information

I1 S. 188 wholly in force at 1.12.2001; s. 188 not in force at Royal Assent see s. 431(2); s. 188(2) in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b), Sch. Pt. 2; s. 188 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)