[F1[F2313BEDecisions on applications for revocation by issuersU.K.
(1)This section applies where, having considered any representations made in response to a warning notice, the [F3FCA] has decided whether to grant an application for revocation made under section 313BD.
(2)The [F3FCA] must give written notice to the issuer if the [F3FCA] decides to revoke the requirement.
(3)If the [F3FCA] is required to give written notice under subsection (2) in relation to a requirement imposed on a class, the [F3FCA] must also give notice of its decision by publishing it by means of a regulatory information service.
(4)The [F3FCA] must give the issuer a decision notice if—
(a)in the case of a requirement imposed on an institution, the [F3FCA] decides not to revoke the requirement, or
(b)in the case of a requirement imposed on a class, the [F3FCA] decides not to revoke the requirement or makes a decision to revoke the requirement in relation to—
(i)the class apart from one or more specified members of it, or
(ii)one or more specified members of the class only.
(5)If the [F3FCA] is required to give a decision notice under subsection (4)(b), it must also give notice of its decision by publishing it by means of a regulatory information service.
(6)If the [F3FCA] gives a decision notice under subsection (4), the issuer may refer the matter to the Tribunal.]]
Textual Amendments
F1Pt. 18A inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(3), Sch. 3 para. 1
F2Ss. 313BA-313BE inserted (9.4.2010) by The Financial Services and Markets Act 2000 (Amendments to Part 18A etc.) Regulations 2010 (S.I. 2010/1193), reg. 4
F3Word in Pt. 18A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 36(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.