C3C2C4Part 5Operating Licences

Annotations:

Maintenance

I1C3C1C2103C3C2Section 102: supplemental

1

The Secretary of State may by regulations provide for section 102 not to apply to the holder of a specified description of operating licence.

2

An application under section 102(2)(b) must be accompanied by the prescribed fee.

3

An application may be made under section 102(2)(b) in respect of a person who is expected to become a controller of a company.

4

The Commission shall as soon as is reasonably practicable inform an applicant under section 102(2)(b) of—

a

the Commission's decision, and

b

the reasons for it.

5

In giving a direction under section 102(3) the Commission shall have regard to normal commercial practices in relation to the confidentiality of information.

6

Regulations under subsection (2) above may, in particular, provide for a reduction of fee where the application is a result of—

a

the merger of more than one company, or

b

the division of a company.

7

Revocation of an operating licence under section 102 shall be treated for all purposes (including the application of section 119) as revocation under section 119.