Financial Services and Markets Act 2000

[F1[F2313BEDecisions on applications for revocation by issuersU.K.

This section has no associated Explanatory Notes

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

(2)The Authority must give written notice to the issuer if the Authority decides to revoke the requirement.

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

(4)The Authority must give the issuer a decision notice if—

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

(b)in the case of a requirement imposed on a class, the Authority decides not to revoke the requirement or makes a decision to revoke the requirement in relation to—

(i)the class apart from one or more specified members of it, or

(ii)one or more specified members of the class only.

(5)If the Authority is required to give a decision notice under subsection (4)(b), it must also give notice of its decision by publishing it by means of a regulatory information service.

(6)If the Authority gives a decision notice under subsection (4), the issuer may refer the matter to the Tribunal.]]

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