F1Part 18ASUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

F2313BCDecisions on applications for revocation by institutions

(1)

This section applies where, having considered any representations made in response to a warning notice, the F3FCA has decided whether to grant an application for revocation made under section 313BB.

(2)

The F3FCA must give written notice in accordance with subsection (3) if—

(a)

in the case of a requirement imposed on an institution, the F3FCA decides to revoke the requirement, or

(b)

in the case of a requirement imposed on a class, the F3FCA makes a decision which has the effect that the requirement will no longer apply to the applicant (whether or not it will continue to apply to other members of the class).

(3)

The written notice must be given to—

(a)

the applicant, and

(b)

the issuer of the financial instrument in question (if any).

(4)

If the F3FCA is required to give written notice under subsection (2) in relation to a requirement imposed on a class, the F3FCA must also give notice of its decision by publishing it by means of a regulatory information service.

(5)

The F3FCA must give a decision notice in accordance with subsection (6) if—

(a)

in the case of a requirement imposed on an institution, the F3FCA decides not to revoke the requirement, or

(b)

in the case of a requirement imposed on a class, the F3FCA makes a decision which has the effect that the requirement will continue to apply to the applicant (whether or not it will continue to apply to other members of the class).

(6)

The decision notice must be given to—

(a)

the applicant, and

(b)

the issuer of the financial instrument in question (if any).

(7)

If the F3FCA is required to give a decision notice in relation to a requirement imposed on a class, the F3FCA must also give notice of its decision by publishing it by means of a regulatory information service.

(8)

If the F3FCA gives a decision notice, the recipient may refer the matter to the Tribunal.