Financial Services and Markets Act 2000 (c. 8)

Part XVII U.K. Collective Investment Schemes

Chapter III U.K. Authorised Unit Trust Schemes

Applications refused U.K.

245 Procedure when refusing an application. U.K.

(1) If the [F1 FCA] proposes to refuse an application made under section 242 it must give each of the applicants a warning notice.

(2) If the [F1 FCA] decides to refuse the application—

(a) it must give each of the applicants a decision notice; and

(b) either applicant may refer the matter to the Tribunal.

Textual Amendments

F1 Word in ss. 242-252A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1 S. 245 wholly in force at 1.12.2001; s. 245 not in force at Royal Assent see s. 431(2); s. 245 in force for specified purposes at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2; s. 245 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)