Yn ddilys o 01/04/2007
[F1412BProcedure for approval and suspension or withdrawal of approvalU.K.
(1)If the Authority approves a relevant system, it must give the operator of the system written notice specifying the date from which the approval has effect.
(2)If the Authority proposes to refuse to approve a relevant system, it must give the operator of the system a warning notice.
(3)If the Authority decides to refuse to approve a relevant system, it must give the operator of the system a decision notice.
(4)If the Authority proposes to suspend or withdraw its approval in relation to an approved relevant system, it must give the operator of the system a warning notice.
(5)If the Authority decides to suspend or withdraw its approval in relation to an approved relevant system, it must give the operator of the system a decision notice specifying the date from which the suspension or withdrawal is to take effect.
(6)Subsections (7) to (9) apply if—
(a)the Authority has suspended its approval in relation to an approved relevant system, and
(b)the operator of the system has applied for the suspension to be cancelled.
(7)The Authority must grant the application if it is satisfied as mentioned in section 412A(2); and in such a case the Authority must give written notice to the operator that the suspension is to be cancelled from the date specified in the notice.
(8)If the Authority proposes to refuse the application, it must give the operator a warning notice.
(9)If the Authority decides to refuse the application, it must give the operator a decision notice.
(10)A person who receives a decision notice under subsection (3), (5) or (9) may refer the matter to the Tribunal.]
Textual Amendments
F1Ss. 412A, 412B and preceding cross-heading 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(5), Sch. 5 para. 18