The Risk Transformation Regulations 2017, Section 173 is up to date with all changes known to be in force on or before 02 March 2025. 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.
173.—(1) A person must comply with the following requirements before making an application under regulation 174 (fast track transfers) or regulation 175 (transfers sanctioned by court order).
(2) The person who proposes to make the application must decide on a date (by virtue of regulation 171, this date is known as the “reference date”).
(3) Within a period of 10 working days beginning with the reference date, a notice stating that the person proposes to make the application must be—
(a)published—
(i)in the London, Edinburgh and Belfast Gazettes;
(ii)in two national newspapers in the United Kingdom; and
(iii)in a national newspaper in each of the countries or territories in which a person who was an affected party on the reference date is located; and
(b)sent to all the persons who were affected parties on the reference date.
(4) The applicant must provide the following documents free of charge and without delay to the FCA, the PRA and any other person who requests them—
(a)a statement setting out the terms of the proposed transfer scheme; and
(b)a copy of the proposed application.
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