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Financial Services and Markets Act 2000
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Changes over time for: Section 269
Version Superseded: 31/12/2020
Alternative versions:
- 01/12/2001- Amendment
- 01/04/2013- Amendment
- 22/07/2013
Point in time - 31/12/2020- Amendment
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Financial Services and Markets Act 2000, Section 269 is up to date with all changes known to be in force on or before 21 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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269 Procedure on application for variation or revocation of direction.U.K.
This section has no associated Explanatory Notes
(1)If, on an application under subsection (4) or (5) of section 267, the [F1FCA] proposes—
(a)to vary a direction otherwise than in accordance with the application, or
(b)to refuse the application,
it must give the operator of the scheme concerned a warning notice.
(2)If, on such an application, the [F2FCA] decides—
(a)to vary a direction otherwise than in accordance with the application, or
(b)to refuse the application,
it must give the operator of the scheme concerned a decision notice.
(3)If the application is refused, the operator of the scheme may refer the matter to the Tribunal.
(4)If, on such an application, the [F3FCA] decides to grant the application it must give the operator of the scheme concerned written notice.
(5)If the [F4FCA] decides on its own initiative to revoke a direction given under section 267 it must give the operator of the scheme concerned written notice.
(6)[F5The FCA] must inform the competent authorities in the scheme’s home State of any notice given under this section.
Textual Amendments
F1Word in s. 269(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 15(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Word in s. 269(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 15(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3Word in s. 269(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 15(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Word in s. 269(5) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 15(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5Words in s. 269(6) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 15(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
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