Procedure for cancellation or suspension for non-payment of complaints fee
7.—(1) Before cancelling or suspending an authorised person’s authorisation under regulation 6, the Regulator must give written notice to the authorised person—
(a)stating that the Regulator proposes to cancel or suspend the authorisation, as appropriate;
(b)in the case of suspension, setting out the period of the suspension and circumstances in which it will be lifted;
(c)setting out the reasons for the Regulator’s decision;
(d)inviting the authorised person to make a written submission in relation to the proposed cancellation or suspension; and
(e)specifying a reasonable period within which the authorised person may make any submissions.
(2) Before cancelling or suspending the authorisation, the Regulator must take into account any submission made by the authorised person within the period allowed (or any further period allowed by the Regulator).
(3) If the Regulator decides to cancel or suspend an authorised person’s authorisation, the Regulator must give written notice to the authorised person of the cancellation or suspension.
(4) A notice served under paragraph (3) must specify the day from which the cancellation or suspension takes effect.