31Reasons for decisionsU.K.
(1)This section applies to the following decisions of the economic regulator or the Secretary of State—
(a)the revocation of a licence;
(b)the modification of the conditions of a licence;
(c)the giving of any directions or consent in pursuance of a condition included in a licence by virtue of section 11(2)(a) or (c);
(d)the determination of a question referred in pursuance of a condition included in a licence by virtue of section 11(2)(d);
(e)the making of a final order, the making or confirmation of a provisional order or the revocation of a final order or of a provisional order which has been confirmed.
(2)As soon as reasonably practicable after making such a decision the economic regulator or the Secretary of State (“the decision maker”) must—
(a)publish a notice stating the reasons for the decision in such manner as the decision maker considers appropriate for the purpose of bringing the matters to which the notice relates to the attention of persons likely to be interested, and
(b)send a copy of the notice to the licence holder to whose licence, or to whom, the decision relates.
(3)In preparing a notice under subsection (2) the decision maker must have regard to the need for excluding, so far as that is practicable, any matter which relates to the affairs of a particular individual or body of persons (corporate or unincorporate), where the decision maker considers that publication of that matter would or might seriously and prejudicially affect the interests of that individual or body.
(4)In this Part “final order” and “provisional order” have the same meaning as in Schedule 3 (see paragraph 1(12) of that Schedule).
Commencement Information
I1S. 31 in force at 26.12.2023, see s. 334(3)(a)