C1Part VI Official Listing

Annotations:
Modifications etc. (not altering text)
C1

Pt. 6 (ss. 72-103) applied (with modifications) (1.12.2001) by S.I. 1995/1537, Sch. 4 (as amended (1.12.2001) by S.I. 2001/3649, arts. 1, 511)

Sponsors

88EF1Powers exercisable to advance operational objectives

1

The FCA may take action against a sponsor under this section if it considers that it is desirable to do so in order to advance one or more of its operational objectives.

2

If the FCA is entitled to take action under this section against a sponsor, it may—

a

suspend, for such period as it considers appropriate, the sponsor's approval, or

b

impose, for such period as it considers appropriate, such limitations or other restrictions in relation to the performance of services to which the sponsor's approval relates as it considers appropriate.

3

A suspension may relate only to the performance in specified circumstances of a service to which the approval relates.

4

A restriction may, in particular, be imposed so as to require the sponsor to take, or refrain from taking, specified action.

5

The FCA may—

a

withdraw a suspension or restriction, or

b

vary a suspension or restriction so as to reduce the period for which it has effect or otherwise to limit its effect.

6

A person against whom the FCA takes action under this section may refer the matter to the Tribunal.