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[F1Part 18AU.K.SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

Textual Amendments

313BSuspension or removal of financial instruments from trading: procedureU.K.

(1)A requirement imposed on an institution under section 313A (a “relevant requirement”) takes effect—

(a)immediately, if the notice given under subsection (2) states that this is the case;

(b)in any other case, on such date as may be specified in the notice.

(2)If the [F2FCA] proposes to impose a relevant requirement on an institution, [F3or a class of institutions,] or imposes such a requirement with immediate effect, it must give written notice to[F4 give notice—

(a)by written notice to—

(i)the institution or, as the case may be, each institution in the class, and

(ii)the issuer of the financial instrument in question (if any); or

(b)by publishing a notice by means of a regulatory information service.]

(3)[F5A notice given under subsection (2)(a)] must—

(a)give details of the relevant requirement;

(b)state the [F6FCA's] reasons for imposing the requirement and choosing the date on which it took effect or takes effect;

(c)inform the recipient that he may make representations to the [F2FCA] within such period as may be specified by the notice (whether or not he has referred the matter to the Tribunal);

(d)inform him of the date on which the requirement took effect or takes effect; and

(e)inform him of his right to refer the matter to the Tribunal and give an indication of the procedure on such a reference.

[F7(3A)A notice published under subsection (2)(b) must—

(a)give details of the relevant requirement;

(b)specify the institution, or the class of institutions, to which it applies;

(c)state the [F6FCA's] reasons for imposing the requirement and choosing the date on which it took effect or takes effect;

(d)state that any institution to which the requirement applies or the issuer of the financial instrument in question may make representations to the [F2FCA] within such period as may be specified by the notice (whether or not the institution or the issuer has referred the matter to the Tribunal);

(e)state the date on which the requirement took effect or takes effect; and

(f)state that any institution to which the requirement applies or the issuer of the financial instrument in question has a right to refer the matter to the Tribunal, and give an indication of the procedure on such a reference.]

(4)The [F2FCA] may extend the period within which representations may be made to it.

(5)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(9)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(10)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(11)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(12)F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F2Word in Pt. 18A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 36(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F6Word in Pt. 18A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 36(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.