Version Superseded: 01/04/2013
Point in time view as at 01/12/2004. This version of this provision has been superseded.
Financial Services and Markets Act 2000, Section 389 is up to date with all changes known to be in force on or before 15 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)If the Authority decides not to take—
(a)the action proposed in a warning notice, or
(b)the action to which a decision notice relates,
it must give a notice of discontinuance to the person to whom the warning notice or decision notice was given.
(2)But subsection (1) does not apply if the discontinuance of the proceedings concerned results in the granting of an application made by the person to whom the warning or decision notice was given.
(3)A notice of discontinuance must identify the proceedings which are being discontinued.
Modifications etc. (not altering text)
C1S. 389 applied (1.12.2001) by S.I. 2001/1228, regs. 1(2)(c), 8(c) (with reg. 1(2)(3)); S.I. 2001/3538, art. 2(1)
C2S. 389 applied (N.I.) (1.11.2004) by Open-Ended Investment Companies Regulations (Northern Ireland) 2004 (S.R. 2004/335), regs. 1(1)(b), 8(c) (with reg. 1(2))
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