Assessment of whether an advance application is completeU.K.
This section has no associated Explanatory Memorandum
6. The FCA must, before the end of a period of 20 working days beginning with the day of receipt—
(a)if it considers that an advance application complies with the directions under regulation 5(2), confirm in writing to the applicant that the application is complete;
(b)if it considers that the application does not comply with one or more of the directions under that regulation—
(i)confirm in writing to the applicant that the application is not complete, and
(ii)where applicable, inform the applicant of the steps which need to be taken, and the time within which they need to be taken, for the application to be considered complete.