- Latest available (Revised)
- Point in Time (03/01/2018)
- Original (As made)
Point in time view as at 03/01/2018.
There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013, Section 4.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
4.—(1) This article applies to an exercise of the PRA's power to designate under article 3.
(2) The designation takes effect—
(a)immediately, if the notice given under paragraph (4) states that this is the case; or
(b)on such date as is specified in the notice.
(3) A designation may be expressed to take effect immediately only if the PRA considers that it is necessary for the designation to take effect immediately.
(4) If the PRA proposes to designate a person under article 3, or to designate a person under that article with immediate effect, it must give the person concerned (“P”) written notice.
(5) The notice must—
(a)state the reasons for the designation;
(b)inform P of when the designation takes effect and state the reasons for the PRA's determination as to when the designation takes effect;
(c)inform P that P may make representations to the PRA within such period as may be specified in the notice (whether or not P has referred the matter to the Tribunal); and
(d)inform P of P's right to refer the matter to the Tribunal.
(6) The PRA may extend the period allowed under the notice for making representations.
(7) If, having considered any representations made by P, the PRA decides—
(a)to designate P; or
(b)if P has already been designated, not to rescind the designation,
the PRA must give P written notice.
(8) If, having considered any representations made by P, the PRA decides—
(a)not to designate P; or
(b)to rescind a designation which has taken effect,
the PRA must give P written notice.
(9) A notice under paragraph (7) must inform P of P's right to refer the matter to the Tribunal.
(10) If a notice informs P of P's right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.
(11) A person who is aggrieved by the exercise of the PRA's power to designate under article 3 may refer the matter to the Tribunal.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: