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Textual Amendments
F1Pt. 20A inserted (3.3.2015) by Pension Schemes Act 2015 (c. 8), s. 89(1)(a), Sch. 3 para. 2 (with s. 87, Sch. 3 para. 18(1))
Modifications etc. (not altering text)
C1Pt. 20A functions transferred (1.4.2016) by The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), arts. 1(2), 2 (with art. 4)
(1)If the FCA considers that a designated guidance provider has failed to comply with a standard set under section 333H the FCA may—
(a)recommend steps that the designated guidance provider might take to prevent the continuance or recurrence of the failure or to make redress to those affected by the failure, and
(b)having made such a recommendation, recommend that the [F2Secretary of State] give a direction under section 333M.
(2)The FCA must publish a recommendation made under subsection (1)(b) unless the FCA considers that to do so—
(a)would be against the public interest, or
(b)would be inappropriate for some other reason.
(3)If the condition in subsection (2)(a) or (b) is satisfied in relation to a recommendation but would not be satisfied if the FCA published part only of the recommendation, the FCA may publish that part.
(4)If the power conferred by section 333E(3) to revoke a designation is exercised before the power in subsection (1) the reference in subsection (1) to a designated guidance provider is to be read as a reference to a person who, at the time of the failure to comply, was a designated guidance provider.]
Textual Amendments
F2Words in s. 333J(1)(b) substituted (1.4.2016) by The Transfer of Functions (Pensions Guidance) Order 2015 (S.I. 2015/2013), art. 1(2), Sch. para. 1(8) (with art. 4)