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The Recognised Auction Platforms Regulations 2011, Section 5 is up to date with all changes known to be in force on or before 12 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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5.—(1) Before refusing to make a recognition order, giving a direction under regulation 3 or making a revocation order under regulation 4, the Authority must—
(a)give written notice of its intention to do so to the body which would be affected by the proposed refusal, direction or revocation order;
(b)take such steps as it considers reasonably practicable to bring the notice to the attention of members (if any) of that body; and
(c)publish the notice in such manner as it thinks appropriate for bringing it to the attention of other persons who are, in its opinion, likely to be affected.
(2) A notice under paragraph (1) must—
(a)state why the Authority intends to refuse to make the recognition order, to give the direction or to make the revocation order; and
(b)draw attention to the right to make representations conferred by paragraph (3).
(3) Before the end of the period for making representations—
(a)the body which would be affected by the proposed refusal, direction or revocation order,
(b)any member of that body, and
(c)any other person who is likely to be affected by the proposed refusal, direction or revocation order,
may make representations to the Authority.
(4) The period for making representations is—
(a)two months beginning—
(i)with the date on which the notice is served on the body which would be affected by the proposed refusal, direction or revocation order; or
(ii)if later, with the date on which the notice is published; or
(b)such longer period as the Authority may allow in the particular case.
(5) In deciding whether to—
(a)refuse a recognition order,
(b)give a direction, or
(c)make a revocation order,
the Authority must have regard to any representations made in accordance with paragraph (3).
(6) When the Authority has decided whether to refuse a recognition order, give the proposed direction or make the proposed revocation order, it must—
(a)give written notice of [F1its decision] to the body affected by its decision;
(b)if it has decided to refuse a recognition order, give a direction or make a revocation order, take such steps as it considers reasonably practicable for bringing its decision to the attention of members of the body or of other persons who are, in the Authority's opinion, likely to be affected.
(7) If the Authority considers it essential to do so, it may give a direction under regulation 3—
(a)without following the procedure set out in this regulation; or
(b)if the Authority has begun to follow that procedure, regardless of whether the period for making representations has expired.
(8) If the Authority has, in relation to a particular matter, followed the procedure set out in paragraphs (1) to (5), it need not follow it again if, in relation to that matter, it decides to take action other than that specified in its notice under paragraph (1).
Textual Amendments
F1Words in reg. 5(6)(a) substituted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906), arts. 1, 8(2)
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