7. If the [F1Bank of England reasonably considers it necessary] to do so, [F2it] may withdraw an Operator’s approval under regulation 7(2) or give a direction under regulation 8—U.K.
(a)without following the procedure set out in this Schedule; or
(b)if the [F3Bank of England has] begun to follow that procedure, regardless of whether the period for making representations has expired.
Textual Amendments
F1Words in Sch. 3 para. 7 substituted (1.4.2013) by The Uncertificated Securities (Amendment) Regulations 2013 (S.I. 2013/632), regs. 1, 2(15)(g)(i) (with reg. 3)
F2Word in Sch. 3 para. 7 substituted (1.4.2013) by The Uncertificated Securities (Amendment) Regulations 2013 (S.I. 2013/632), regs. 1, 2(15)(g)(ii) (with reg. 3)
F3Words in Sch. 3 para. 7(b) substituted (1.4.2013) by The Uncertificated Securities (Amendment) Regulations 2013 (S.I. 2013/632), regs. 1, 2(15)(g)(iii) (with reg. 3)
Commencement Information
I1Sch. 3 para. 7 in force at 26.11.2001, see reg. 1