PART 3Transitional provisions
CHAPTER 2Authorisation and regulation of 2006 Act authorised persons
Proposal by the Regulator to vary authorisation: determination by the FCA43
1
This article applies where the Regulator—
a
gave written notice to a relevant person (“A”) under regulation 46(4) of the 2006 Regulations (cancellation, suspension and variation of authorisations) that the Regulator proposed to vary A’s authorisation; and
b
did not, on or before 1st April 2019, give written notice under regulation 47(1) of the 2006 Regulations (procedure for cancellation etc) of a decision to vary A’s authorisation.
2
The Regulator’s notice is to be treated as written notice given by the FCA under section 55Y(4) of the 2000 Act77, and for this purpose—
a
subsection (2) of that section does not apply to the notice;
b
the notice is taken to comply with subsection (5) of that section;
c
the notice is to be read—
i
as if the period specified in it for making a written submission (including any further period allowed under regulation 46(5) of the 2006 Regulations) were the period for making representations specified in accordance with section 55Y(5)(c) of the 2000 Act;
ii
as if a reference to the Regulator were a reference to the FCA; and
iii
with any other necessary modifications.