The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

Withdrawal of approval of registered person or individualU.K.

75.—(1) This article applies where—

(a)the Authority proposes to withdraw its approval from a person (“RI”) under section 63(1);

(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which RI was subject immediately before commencement;

(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to remove the registered individual or person from its register corresponding to the power of the Authority under section 63(1) against RI at the conclusion of those proceedings;

(d)the expedited decision conditions are satisfied.

(2) In a case where this article applies, the Authority may give a decision notice under section 63(4) without having given a warning notice.

Commencement Information

I1Art. 75 in force at 1.12.2001, see art. 1(2)