Representations and references to the TribunalU.K.
[F115B(1)Within a reasonable time after the end of the period for making representations, the [F2appropriate UK regulator] must decide, in the light of any representations made to it during that period by a person to whom notice has been given under paragraph 15A(4), whether to withdraw the notice.
(2)If the [F2appropriate UK regulator] decides not to withdraw its notice, it must—
(a)give a decision notice to each person to whom the notice under paragraph 15A(4) was given, and
(b)inform the firm's home state regulator and the Commission that authorisation has been refused, and of the grounds for the refusal.
(3)The management company to whom the decision notice is given may refer the matter to the Tribunal.
[F3(4)In this paragraph “the appropriate UK regulator” has the same meaning as in paragraph 15A.]]
Textual Amendments
F1Sch. 3 paras. 15A-15C substituted for Sch. 3 para. 15A (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), reg. 2(33)(d)
F2Words in Sch. 3 para. 15B substituted (27.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 4 para. 5(2) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
F3Sch. 3 para. 15B(4) inserted (27.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 4 para. 5(3) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.