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21.—(1) A person in relation to whom paragraph 14 applies must, before the end of the 12 months beginning with the day on which exit day falls, notify the FCA—
(a)whether the person or a member of the person’s immediate group, as defined by section 421ZA of the 2000 Act, intends to apply under regulation 5 or 17 of PSR 2017, and
(b)whether the person intends to cease at or before the end of the transition period to provide in the United Kingdom the services to which the transitional authorisation relates.
(2) The person must notify the FCA within a reasonable time of any change in an intention previously notified.
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