Part XVIIIRecognised investment exchanges, clearing houses , CSDs and other parties
F1CHAPTER 2APerformance of functions of recognised bodies
Prohibition
309CProcedure for making Part 18 prohibition orders
(1)
If the appropriate regulator proposes to make a Part 18 prohibition order it must—
(a)
comply with such consultation requirements as may be prescribed, and
(b)
give the individual to whom the order would apply a warning notice.
(2)
A warning notice under subsection (1)(b) must set out the terms of the prohibition.
(3)
If the appropriate regulator decides to make a Part 18 prohibition order it must give the individual to whom the order applies a decision notice.
(4)
The decision notice must—
(a)
name the individual to whom the Part 18 prohibition order applies, and
(b)
set out the terms of the order.
(5)
If the appropriate regulator decides to make a Part 18 prohibition order, the individual to whom the order applies may refer the matter to the Tribunal.