Dealing in investments as principal: withdrawal of designation6.
(1)
The PRA may withdraw a designation under article 3 in relation to a person (“P”) if the PRA considers it appropriate to do so.
(2)
If the PRA proposes to withdraw a designation in relation to P, the PRA must give P a warning notice.
(3)
If the PRA decides to withdraw a designation in relation to P, the PRA must give P a decision notice.
(4)
If the PRA decides to withdraw a designation in relation to P, P may refer the matter to the Tribunal.
(5)
Before withdrawing a designation under paragraph (1), the PRA must consult the FCA.