Financial Services and Markets Act 2000

[F187DProcedure for decision on application for approvalU.K.

This section has no associated Explanatory Notes

(1)If the [F2FCA] approves a prospectus, it must give the applicant [F3and ESMA] written notice.

[F4(1A)The written notice to ESMA must be accompanied by a copy of the prospectus as approved.]

(2)If the [F2FCA] proposes to refuse to approve a prospectus, it must give the applicant written notice.

(3)The notice must state the [F2FCA's] reasons for the proposed refusal.

(4)If the [F2FCA] decides to refuse to approve a prospectus, it must give the applicant written notice.

(5)The notice must—

(a)give the [F2FCA's] reasons for refusing the application; and

(b)inform the applicant of his right to refer the matter to the Tribunal.

(6)If the [F2FCA] refuses to approve a prospectus, the applicant may refer the matter to the Tribunal.

(7)In this section “prospectus” includes a supplementary prospectus.]