Sch. 2A inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 18(3)

http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13The Electronic Money Regulations 2011texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-06-19Expert Participation2017-10-13These Regulations implement Directive 2009/110/EC of the European Parliament and of the Council of 16th September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“the Directive”) (OJ No L 275, 27.10.2000, p.39).SCHEDULE 2ACredit agreementsPART 2Procedure and appeals3Interpretation

In this Part—

“prohibition” means a credit prohibition imposed under paragraph 1(1) or (2) of Part 1 of this Schedule;

“restriction” means a restriction imposed under paragraph 2(2) or (3) of Part 1 of this Schedule;

“the Tribunal” means the Upper Tribunal.

4Notice of prohibition or restriction1

A prohibition or restriction takes effect—

a

immediately, if the relevant notice states that that is the case,

b

on such date as may be specified in the notice, or

c

if no date is specified in the notice, when the matter to which the notice relates is no longer open to review.

2

An institution which is aggrieved by the imposition of a prohibition or a restriction by a notice given under this paragraph may refer the matter to the Tribunal.

3

A prohibition or restriction may be expressed to take effect immediately (or on a specified date) only if the Authority, having regard to the ground on which it is imposing the prohibition or restriction, reasonably considers that it is necessary for the prohibition or restriction to take effect immediately (or on that date).

4

The notice must—

a

give details of the prohibition or restriction,

b

state the Authority’s reasons for the prohibition or restriction,

c

inform the institution that it may make representations to the Authority within such period as is specified in the notice (whether or not the institution has referred the matter to the Tribunal),

d

inform the institution of when the prohibition or restriction takes effect, and

e

inform the institution of its right to refer the matter to the Tribunal.

5

The Authority may extend the period allowed under the notice for making representations.

6

If, having considered any representations made by the institution, the Authority decides—

a

to impose the proposed prohibition or restriction, or

b

if the prohibition or restriction has taken effect, not to withdraw the prohibition or restriction,

it must give the institution a notice.

7

If, having considered any representations made by the institution, the Authority decides—

a

not to impose the proposed prohibition or restriction,

b

to impose a different prohibition or restriction, or

c

if the prohibition or restriction has already taken effect, to withdraw the prohibition or restriction,

it must give the institution a notice.

7

A notice under sub-paragraph (6) must inform the institution of its right to refer the matter to the Tribunal.

8

A notice under sub-paragraph (7)(b) must comply with sub-paragraph (4).

9

If a notice under this paragraph informs an institution of its right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.

10

For the purposes of sub-paragraph (1)(c)—

a

whether a matter is open to review is to be determined in accordance with section 391(8) of the 2000 Act;

b

the notice to which the matter relates is to be treated as a supervisory notice for the purposes of that section.

11

References in this paragraph to the imposition of a restriction include references to the variation of a restriction on the initiative of the Authority.

5Application to revoke or vary prohibition or restriction1

An application under Part 1 of this Schedule must—

a

be made in such manner as the Authority may direct, and

b

contain, or be accompanied by, such other information as the Authority may reasonably require.

2

At any time after the application is received and before it is determined, the Authority may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application.

3

Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.

4

The Authority may require an applicant to provide information required under this paragraph in such form, or to verify it in such a way, as the Authority may direct.

5

If the Authority decides to grant an application, it must give the applicant a notice.

6

If the Authority proposes to refuse an application, or to take an action different from or in addition to the one applied for (including a proposal to impose a restriction when withdrawing a prohibition on an application under paragraph 1(8)(b)), it must give the applicant a warning notice.

7

If the Authority decides to refuse an application, or to take an action different from or in addition to the one applied for (including a decision to impose a restriction when withdrawing a prohibition on an application under paragraph 1(8)(b)), it must give the applicant a decision notice.

8

An applicant who is aggrieved by a decision notice given under this paragraph may refer the matter to the Tribunal.

6Notice to the home state competent authority

If the Authority sends a notice to an institution under this Schedule which imposes, varies or withdraws a prohibition or restriction, it must send a copy of the notice to the institution’s home state competent authority

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/uksi/2011/99/schedule/2A">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/uksi/2011/99/schedule/2A"/>
<FRBRuri value="http://www.legislation.gov.uk/id/uksi/2011/99/schedule/2A"/>
<FRBRdate date="2011-01-18" name="made"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/government/uk"/>
<FRBRcountry value="GB-UKM"/>
<FRBRsubtype value="regulation"/>
<FRBRnumber value="99"/>
<FRBRname value="S.I. 2011/99"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/2017-10-13"/>
<FRBRdate date="2017-10-13" name="validFrom"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/2017-10-13/data.akn"/>
<FRBRdate date="2024-11-07Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<classification source="#source">
<keyword value="financial services and markets" showAs="FINANCIAL SERVICES AND MARKETS" dictionary="http://www.legislation.gov.uk"/>
</classification>
<lifecycle source="#source">
<eventRef date="2011-01-18" type="generation" eId="made-date" source="#source"/>
<eventRef date="2011-01-19" eId="laid-date-1" source="#source"/>
<eventRef date="2014-02-14" type="amendment" source="#source"/>
<eventRef date="2020-12-31" type="amendment" source="#source"/>
<eventRef date="2014-02-14" eId="effective-date-1" source="#source"/>
<eventRef date="2014-04-01" eId="effective-date-2" source="#source"/>
<eventRef date="2017-10-13" eId="effective-date-3" source="#source"/>
<eventRef date="2018-01-03" eId="effective-date-4" source="#source"/>
<eventRef date="2018-01-13" eId="effective-date-5" source="#source"/>
<eventRef date="2020-12-31" eId="effective-date-6" source="#source"/>
</lifecycle>
<analysis source="#source">
<passiveModifications>
<textualMod type="insertion" eId="mod-key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">
<source href="#key-4a25838eaa484ae2b347e030ad5d31e2"/>
<destination href="#schedule-2A"/>
</textualMod>
</passiveModifications>
<restrictions source="#source">
<restriction refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#d4e118" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-2A-paragraph-3" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-2A-paragraph-4" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-2A-paragraph-5" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-2A-paragraph-6" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-2A" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-2A-part-2" refersTo="#e+w+s+ni" type="jurisdiction"/>
</restrictions>
</analysis>
<temporalData source="#source">
<temporalGroup eId="period1">
<timeInterval start="#effective-date-1" end="#effective-date-6" refersTo="#period-concept1"/>
</temporalGroup>
<temporalGroup eId="period2">
<timeInterval start="#effective-date-2" end="#effective-date-6" refersTo="#period-concept2"/>
</temporalGroup>
<temporalGroup eId="period3">
<timeInterval start="#effective-date-3" end="#effective-date-4" refersTo="#period-concept3"/>
</temporalGroup>
<temporalGroup eId="period4">
<timeInterval start="#effective-date-3" end="#effective-date-5" refersTo="#period-concept4"/>
</temporalGroup>
</temporalData>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/StatuteLawDatabase" showAs="Statute Law Database"/>
<passiveRef href="http://www.legislation.gov.uk/id/ukpga/2021/22" showAs="Financial Services Act 2021"/>
<passiveRef href="http://www.legislation.gov.uk/id/ukpga/2023/29" showAs="Financial Services and Markets Act 2023"/>
<TLCLocation eId="e+w+s+ni" href="/ontology/jurisdictions/uk.EnglandWalesScotlandNorthernIreland" showAs="England, Wales, Scotland, Northern Ireland"/>
<TLCConcept eId="period-concept1" href="/ontology/time/2014.02.14-2020.12.31" showAs="from 2014-02-14 until 2020-12-31"/>
<TLCConcept eId="period-concept2" href="/ontology/time/2014.04.01-2020.12.31" showAs="from 2014-04-01 until 2020-12-31"/>
<TLCConcept eId="period-concept3" href="/ontology/time/2017.10.13-2018.01.03" showAs="from 2017-10-13 until 2018-01-03"/>
<TLCConcept eId="period-concept4" href="/ontology/time/2017.10.13-2018.01.13" showAs="from 2017-10-13 until 2018-01-13"/>
</references>
<notes source="#source">
<note class="commentary F" eId="key-4a25838eaa484ae2b347e030ad5d31e2">
<p>
Sch. 2A inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by
<ref href="http://www.legislation.gov.uk/id/uksi/2014/366">The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2014/366/article/1/3">arts. 1(3)</ref>
<ref href="http://www.legislation.gov.uk/id/uksi/2014/366/article/1/4">(4)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2014/366/article/18/3">18(3)</ref>
</p>
</note>
</notes>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<ukl:RestrictStartDate value="2017-10-13"/>
<ukl:RestrictEndDate value="2018-01-03"/>
<dc:identifier>http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13</dc:identifier>
<dc:title>The Electronic Money Regulations 2011</dc:title>
<dc:type>text</dc:type>
<dc:format>text/xml</dc:format>
<dc:language>en</dc:language>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:subject scheme="SIheading">FINANCIAL SERVICES AND MARKETS</dc:subject>
<dc:modified>2024-06-19</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>2017-10-13</dct:valid>
<dc:description>These Regulations implement Directive 2009/110/EC of the European Parliament and of the Council of 16th September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“the Directive”) (OJ No L 275, 27.10.2000, p.39).</dc:description>
<atom:link rel="self" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/uksi/2011/99/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/impacts" href="http://www.legislation.gov.uk/uksi/2011/99/impacts" title="Impact Assessments"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum" href="http://www.legislation.gov.uk/uksi/2011/99/memorandum" title="Explanatory Memorandum"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum/toc" href="http://www.legislation.gov.uk/uksi/2011/99/memorandum/contents" title="Explanatory Memorandum Table of Contents"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/uksi/2011/99/2017-10-13" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/uksi/2011/99/introduction/2017-10-13" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/signature" href="http://www.legislation.gov.uk/uksi/2011/99/signature/2017-10-13" title="signature"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/note" href="http://www.legislation.gov.uk/uksi/2011/99/note/2017-10-13" title="note"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/uksi/2011/99/body/2017-10-13" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/uksi/2011/99/schedules/2017-10-13" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2017-10-13/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/uksi/2011/99/contents/2017-10-13" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/isReplacedBy" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2020-12-31" title="2020-12-31"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2014-02-14" title="2014-02-14"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2/2020-12-31" title="2020-12-31"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/2" title="current"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/2017-10-13" title="Schedule 2A"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/1/2017-10-13" title="Part; Schedule 2A Part 1"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/2A/part/1/2017-10-13" title="Part; Schedule 2A Part 1"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/3/part/1/2017-10-13" title="Part; Schedule 3 Part 1"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/uksi/2011/99/schedule/3/part/1/2017-10-13" title="Part; Schedule 3 Part 1"/>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="UnitedKingdomStatutoryInstrument"/>
<ukm:DocumentStatus Value="revised"/>
<ukm:DocumentMinorType Value="regulation"/>
</ukm:DocumentClassification>
<ukm:Year Value="2011"/>
<ukm:Number Value="99"/>
<ukm:Made Date="2011-01-18"/>
<ukm:Laid Date="2011-01-19" Class="UnitedKingdomParliament"/>
<ukm:ISBN Value="9780111505809"/>
<ukm:UnappliedEffects>
<ukm:UnappliedEffect AffectedProvisions="Regulations" Type="revoked" AffectedClass="UnitedKingdomStatutoryInstrument" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2023/29" AffectedNumber="99" Modified="2024-11-05T10:37:54Z" AffectingYear="2023" URI="http://www.legislation.gov.uk/id/effect/key-6c7497e85b1f1daf61b7fda47c9b7b14" AffectingClass="UnitedKingdomPublicGeneralAct" Row="1789" AffectedURI="http://www.legislation.gov.uk/id/uksi/2011/99" EffectId="key-6c7497e85b1f1daf61b7fda47c9b7b14" AffectedYear="2011" RequiresApplied="true" AffectingProvisions="Sch. 1 Pt. 2" AffectingNumber="29">
<ukm:AffectedTitle>The Electronic Money Regulations 2011</ukm:AffectedTitle>
<ukm:AffectedProvisions>Regulations</ukm:AffectedProvisions>
<ukm:AffectingTitle>Financial Services and Markets Act 2023</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="schedule-1" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/schedule/1">Sch. 1 </ukm:Section>
<ukm:Section Ref="schedule-1-part-2" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/schedule/1/part/2">Pt. 2</ukm:Section>
</ukm:AffectingProvisions>
<ukm:Savings>
<ukm:Section Ref="section-1-4" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/section/1/4">s. 1(4)</ukm:Section>
</ukm:Savings>
<ukm:CommencementAuthority>
<ukm:Section Ref="section-86-3" URI="http://www.legislation.gov.uk/id/ukpga/2023/29/section/86/3">s. 86(3)</ukm:Section>
</ukm:CommencementAuthority>
<ukm:InForceDates>
<ukm:InForce Applied="false" Prospective="true" Qualification=""/>
</ukm:InForceDates>
</ukm:UnappliedEffect>
<ukm:UnappliedEffect AffectingProvisions="s. 23" AffectingNumber="22" Type="power to amend conferred" RequiresApplied="true" AffectedNumber="99" AffectedClass="UnitedKingdomStatutoryInstrument" Modified="2023-09-06T15:10:02Z" AffectingYear="2021" AffectingEffectsExtent="E+W+S+N.I." AffectingClass="UnitedKingdomPublicGeneralAct" Row="323" AffectedProvisions="Regulations" AffectedYear="2011" EffectId="key-ca57efbab5c5e833c34f35925a1657d4" AffectingURI="http://www.legislation.gov.uk/id/ukpga/2021/22" URI="http://www.legislation.gov.uk/id/effect/key-ca57efbab5c5e833c34f35925a1657d4" AffectedURI="http://www.legislation.gov.uk/id/uksi/2011/99">
<ukm:AffectedTitle>The Electronic Money Regulations 2011</ukm:AffectedTitle>
<ukm:AffectedProvisions>Regulations</ukm:AffectedProvisions>
<ukm:AffectingTitle>Financial Services Act 2021</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="section-23" URI="http://www.legislation.gov.uk/id/ukpga/2021/22/section/23">s. 23</ukm:Section>
</ukm:AffectingProvisions>
<ukm:CommencementAuthority>
<ukm:Section Ref="section-49-5" URI="http://www.legislation.gov.uk/id/ukpga/2021/22/section/49/5">s. 49(5)</ukm:Section>
</ukm:CommencementAuthority>
<ukm:InForceDates>
<ukm:InForce Applied="false" Prospective="true" Qualification=""/>
</ukm:InForceDates>
</ukm:UnappliedEffect>
</ukm:UnappliedEffects>
</ukm:SecondaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/uksi/2011/99/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2011/99/pdfs/uksiem_20110099_en.pdf" Date="2012-07-25" Title="Explanatory Memorandum" Size="38316"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2011/99/pdfs/uksi_20110099_en.pdf" Date="2011-01-20" Size="280913"/>
</ukm:Alternatives>
<ukm:ImpactAssessments>
<ukm:ImpactAssessment URI="http://www.legislation.gov.uk/ukia/2011/522/pdfs/ukia_20110522_en.pdf" Date="2011-01-05" Title="Impact Assessment on draft E-Money Regulations" Stage="Final" Department="Her Majesty's Treasury" Year="2011" Number="522"/>
</ukm:ImpactAssessments>
<ukm:Statistics>
<ukm:TotalParagraphs Value="174"/>
<ukm:BodyParagraphs Value="86"/>
<ukm:ScheduleParagraphs Value="88"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody>
<hcontainer name="schedules" eId="d4e118" period="#period4">
<hcontainer name="schedule" eId="schedule-2A" period="#period2">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166 first">
<noteRef href="#key-4a25838eaa484ae2b347e030ad5d31e2" marker="F1" class="commentary attribute F"/>
SCHEDULE
</ins>
 
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">2A</ins>
</num>
<heading>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Credit agreements</ins>
</heading>
<part eId="schedule-2A-part-2" period="#period1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">PART</ins>
 
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">2</ins>
</num>
<heading>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Procedure and appeals</ins>
</heading>
<paragraph eId="schedule-2A-paragraph-3" period="#period1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">3</ins>
</num>
<heading>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Interpretation</ins>
</heading>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">In this Part—</ins>
</p>
<blockList class="unordered">
<item>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">“prohibition” means a credit prohibition imposed under paragraph 1(1) or (2) of Part 1 of this Schedule;</ins>
</p>
</item>
<item>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">“restriction” means a restriction imposed under paragraph 2(2) or (3) of Part 1 of this Schedule;</ins>
</p>
</item>
<item>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">“the Tribunal” means the Upper Tribunal.</ins>
</p>
</item>
</blockList>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4" period="#period1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">4</ins>
</num>
<heading>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Notice of prohibition or restriction</ins>
</heading>
<subparagraph eId="schedule-2A-paragraph-4-1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">1</ins>
</num>
<intro>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">A prohibition or restriction takes effect—</ins>
</p>
</intro>
<paragraph eId="schedule-2A-paragraph-4-1-a">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">a</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">immediately, if the relevant notice states that that is the case,</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-1-b">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">b</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">on such date as may be specified in the notice, or</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-1-c">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">c</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">if no date is specified in the notice, when the matter to which the notice relates is no longer open to review.</ins>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-2">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">2</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">An institution which is aggrieved by the imposition of a prohibition or a restriction by a notice given under this paragraph may refer the matter to the Tribunal.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-3">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">3</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">A prohibition or restriction may be expressed to take effect immediately (or on a specified date) only if the Authority, having regard to the ground on which it is imposing the prohibition or restriction, reasonably considers that it is necessary for the prohibition or restriction to take effect immediately (or on that date).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-4">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">4</ins>
</num>
<intro>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">The notice must—</ins>
</p>
</intro>
<paragraph eId="schedule-2A-paragraph-4-4-a">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">a</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">give details of the prohibition or restriction,</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-4-b">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">b</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">state the Authority’s reasons for the prohibition or restriction,</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-4-c">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">c</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">inform the institution that it may make representations to the Authority within such period as is specified in the notice (whether or not the institution has referred the matter to the Tribunal),</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-4-d">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">d</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">inform the institution of when the prohibition or restriction takes effect, and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-4-e">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">e</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">inform the institution of its right to refer the matter to the Tribunal.</ins>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-5">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">5</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">The Authority may extend the period allowed under the notice for making representations.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-6">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">6</ins>
</num>
<intro>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">If, having considered any representations made by the institution, the Authority decides—</ins>
</p>
</intro>
<paragraph eId="schedule-2A-paragraph-4-6-a">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">a</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">to impose the proposed prohibition or restriction, or</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-6-b">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">b</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">if the prohibition or restriction has taken effect, not to withdraw the prohibition or restriction,</ins>
</p>
</content>
</paragraph>
<wrapUp>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">it must give the institution a notice.</ins>
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-7">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">7</ins>
</num>
<intro>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">If, having considered any representations made by the institution, the Authority decides—</ins>
</p>
</intro>
<paragraph eId="schedule-2A-paragraph-4-7-a">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">a</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">not to impose the proposed prohibition or restriction,</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-7-b">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">b</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">to impose a different prohibition or restriction, or</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-7-c">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">c</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">if the prohibition or restriction has already taken effect, to withdraw the prohibition or restriction,</ins>
</p>
</content>
</paragraph>
<wrapUp>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">it must give the institution a notice.</ins>
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-7n1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">7</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">A notice under sub-paragraph (6) must inform the institution of its right to refer the matter to the Tribunal.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-8">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">8</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">A notice under sub-paragraph (7)(b) must comply with sub-paragraph (4).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-9">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">9</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">If a notice under this paragraph informs an institution of its right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-10">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">10</ins>
</num>
<intro>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">For the purposes of sub-paragraph (1)(c)—</ins>
</p>
</intro>
<paragraph eId="schedule-2A-paragraph-4-10-a">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">a</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">whether a matter is open to review is to be determined in accordance with section 391(8) of the 2000 Act;</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-4-10-b">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">b</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">the notice to which the matter relates is to be treated as a supervisory notice for the purposes of that section.</ins>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-4-11">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">11</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">References in this paragraph to the imposition of a restriction include references to the variation of a restriction on the initiative of the Authority.</ins>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-2A-paragraph-5" period="#period1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">5</ins>
</num>
<heading>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Application to revoke or vary prohibition or restriction</ins>
</heading>
<subparagraph eId="schedule-2A-paragraph-5-1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">1</ins>
</num>
<intro>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">An application under Part 1 of this Schedule must—</ins>
</p>
</intro>
<paragraph eId="schedule-2A-paragraph-5-1-a">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">a</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">be made in such manner as the Authority may direct, and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-2A-paragraph-5-1-b">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">b</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">contain, or be accompanied by, such other information as the Authority may reasonably require.</ins>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-2">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">2</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">At any time after the application is received and before it is determined, the Authority may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-3">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">3</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-4">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">4</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">The Authority may require an applicant to provide information required under this paragraph in such form, or to verify it in such a way, as the Authority may direct.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-5">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">5</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">If the Authority decides to grant an application, it must give the applicant a notice.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-6">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">6</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">If the Authority proposes to refuse an application, or to take an action different from or in addition to the one applied for (including a proposal to impose a restriction when withdrawing a prohibition on an application under paragraph 1(8)(b)), it must give the applicant a warning notice.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-7">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">7</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">If the Authority decides to refuse an application, or to take an action different from or in addition to the one applied for (including a decision to impose a restriction when withdrawing a prohibition on an application under paragraph 1(8)(b)), it must give the applicant a decision notice.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2A-paragraph-5-8">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">8</ins>
</num>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">An applicant who is aggrieved by a decision notice given under this paragraph may refer the matter to the Tribunal.</ins>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-2A-paragraph-6" period="#period1">
<num>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">6</ins>
</num>
<heading>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166">Notice to the home state competent authority</ins>
</heading>
<content>
<p>
<ins class="key-4a25838eaa484ae2b347e030ad5d31e2-1604420260166 last">If the Authority sends a notice to an institution under this Schedule which imposes, varies or withdraws a prohibition or restriction, it must send a copy of the notice to the institution’s home state competent authority</ins>
</p>
</content>
</paragraph>
</part>
</hcontainer>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>