The Open-Ended Investment Companies Regulations 2001 No. 1228

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PART II U.K. FORMATION, SUPERVISION AND CONTROL

Authorisation U.K.

Representations against refusal of authorisation U.K.

16.—(1) If the Authority proposes to refuse an application made under regulation 12, it must give the applicant a warning notice.

(2) If the Authority decides to refuse the application—

(a) it must give the applicant a decision notice; and

(b) the applicant may refer the matter to the Tribunal.