C9C10C11C12C13C14C15C18C19C20C23C25C28C27C26C29C30C36C37C32C35C38C39C40C42C43C44 Part XXVI Notices

Annotations:
Modifications etc. (not altering text)
C9

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 58A(6)(8) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 75 (with art. 13(3), Sch.5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 85(4B) (as inserted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 95 (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1992 c. 40, s. 36A(5C)(5D) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 142(c) (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 46A(6)(8) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 148 (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2(1)

Pt. 26 (ss. 387-396) applied (with modifications) (17.8.2001 for certain purposes otherwise 1.12.2001) by 1986 c. 53, s. 93(6A) (as substituted (17.8.2001 for certain purposes otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 177(d) (with art. 13(3), Sch. 5)); S.I. 2001/3538, art. 2

C12

Pt. 26 applied (with modifications) (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 5

C13

Pt. 26 applied (with modifications) (7.6.2010) by The Credit Rating Agencies Regulations 2010 (S.I. 2010/906), reg. 30

C14

Pt. 26 applied (with modifications) (9.2.2011 for certain purposes and 30.4.2011 otherwise) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(a)(xiv)(b), 62, Sch. 3 para. 8 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(h))

C20

Pt. 26 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(11)

C23

Pt. 26 applied (with modifications) (12.12.2014) by The Immigration Act 2014 (Bank Accounts) Regulations 2014 (S.I. 2014/3085), regs. 1, 29

C28

Pt. 26 applied (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), arts. 1(5), 24(2) (with Pt. 4)

C30

Pt. 26 applied (with modifications) (18.9.2016) by The Payment Accounts Regulations 2015 (S.I. 2015/2038), reg. 1(2)(b), Sch. 7 para. 4

C36

Pt. 26 modified (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 22 (with reg. 7)

C37

Pt. 26 applied (with modifications) (3.7.2017 for specified purposes, 3.1.2018 in so far as not already in force, 3.1.2018 in so far as not already in force) by The Data Reporting Services Regulations 2017 (S.I. 2017/699), regs. 1(2)(a)(b), 37

C32

Pt. 26 applied (with modifications) (13.10.2017) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(3)(c), Sch. 6 para. 10 (with reg. 3)

C39

Pt. 26 applied (with modifications) (1.1.2019) by The Securitisation Regulations 2018 (S.I. 2018/1288), reg. 1, Sch. 1 para. 7 (with Sch. 1 paras. 13, 14)

C44

Pt. 26 applied (with modifications) (10.6.2019) by The Proxy Advisors (Shareholders Rights) Regulations 2019 (S.I. 2019/926), regs. 1, 20, 26 (as amended by S.I. 2020/628, regs. 1(4), 15(6))

Third party rights and access to evidence

C24C31392 Application of sections 393 and 394.

Sections 393 and 394 apply to—

C1a

a warning notice given in accordance with section F1355Z(1), 57(1), 63(3), F163B(1), 67(1), 88(4)(b), F10section 88B(1), 92(1), 126(1), F2131H(1),F43142T(1),F14192L(1) F45, 192R(8), 192Z(1), 207(1), 255(1), F38261V(1), 280(1), F8section 312G(1), 331(1), F15345B(1) (whether as a result of section 345(2), 345A(3) or section 249(1) F39or 261K(1)) F3, 385(1) or 412B(4) or (8);

b

a decision notice given in accordance with section F1655Z(2), 57(3), 63(4), F463B(3), 67(4), 88(6)(b), F11section 88B(5), 92(4), 127(1), F5131H(4),F44142T(4),F17192L(4) F46, 192R(9), 192Z(4), 208(1), 255(2), F40261V(2), 280(2), F9section 312H(1), 331(3), F18345B(4) (whether as a result of section 345(2), 345A(3) or section 249(1) F41or 261K(1)) F6, 386(1) or 412B(5) or (9).

C2C3C4C16C21C24C31C33C40C42C41C43393 Third party rights.

C51

If any of the reasons contained in a warning notice to which this section applies relates to a matter which—

a

identifies a person (“the third party”) other than the person to whom the notice is given, and

b

in the opinion of the F19regulator giving the notice, is prejudicial to the third party,

a copy of the notice must be given to the third party.

2

Subsection (1) does not require a copy to be given to the third party if the F20regulator giving the notice —

a

has given him a separate warning notice in relation to the same matter; or

b

gives him such a notice at the same time as it gives the warning notice which identifies him.

3

The notice copied to a third party under subsection (1) must specify a reasonable period (which may not be less than F2114 days) within which he may make representations to F22the regulator giving the notice.

C45C464

If any of the reasons contained in a decision notice to which this section applies relates to a matter which—

a

identifies a person (“the third party”) other than the person to whom the decision notice is given, and

b

in the opinion of F23the regulator giving the notice, is prejudicial to the third party,

a copy of the notice must be given to the third party.

5

If the decision notice was preceded by a warning notice, a copy of the decision notice must (unless it has been given under subsection (4)) be given to each person to whom the warning notice was copied.

6

Subsection (4) does not require a copy to be given to the third party if F24the regulator giving the notice—

a

has given him a separate decision notice in relation to the same matter; or

b

gives him such a notice at the same time as it gives the decision notice which identifies him.

7

Neither subsection (1) nor subsection (4) requires a copy of a notice to be given to a third party if F25the regulator giving the notice considers it impracticable to do so.

8

Subsections (9) to (11) apply if the person to whom a decision notice is given has a right to refer the matter to the Tribunal.

9

A person to whom a copy of the notice is given under this section may refer to the Tribunal—

a

the decision in question, so far as it is based on a reason of the kind mentioned in subsection (4); or

b

any opinion expressed by F26the regulator giving the notice in relation to him.

10

The copy must be accompanied by an indication of the third party’s right to make a reference under subsection (9) and of the procedure on such a reference.

11

A person who alleges that a copy of the notice should have been given to him, but was not, may refer to the Tribunal the alleged failure and—

a

the decision in question, so far as it is based on a reason of the kind mentioned in subsection (4); or

b

any opinion expressed by F27the regulator giving the notice in relation to him.

12

Section 394 applies to a third party as it applies to the person to whom the notice to which this section applies was given, in so far as the material F28to which access must be given under that section relates to the matter which identifies the third party.

13

A copy of a notice given to a third party under this section must be accompanied by a description of the effect of section 394 as it applies to him.

14

Any person to whom a warning notice or decision notice was copied under this section must be given a copy of a notice of discontinuance applicable to the proceedings to which the warning notice or decision notice related.

C6C7C8C17C22C24C31C34394 Access to F12FCA or PRA material.

1

If F29a regulator gives a person (“A”) a notice to which this section applies, it must—

a

allow him access to the material on which it relied in taking the decision which gave rise to the obligation to give the notice;

b

allow him access to any secondary material which F30, in the regulator's opinion, might undermine that decision.

2

But F31the regulator giving the notice does not have to allow A access to material under subsection (1) if the material is excluded material or it—

a

relates to a case involving a person other than A; and

b

was taken into account by F31the regulator giving the notice in A’s case only for purposes of comparison with other cases.

3

F32The regulator giving the notice may refuse access A to particular material which it would otherwise have to allow him access to if, in its opinion, allowing him access to the material—

a

would not be in the public interest; or

b

would not be fair, having regard to—

i

the likely significance of the material to A in relation to the matter in respect of which he has been given a notice to which this section applies; and

ii

the potential prejudice to the commercial interests of a person other than A which would be caused by the material’s disclosure.

4

If F33the regulator giving the notice does not allow A access to material because it is excluded material consisting of a protected item, it must give A written notice of—

a

the existence of the protected item; and

b

F34the regulator's decision not to allow him access to it.

5

If F35the regulator giving the notice refuses under subsection (3) to allow A access to material, it must give him written notice of—

a

the refusal; and

b

the reasons for it.

6

“Secondary material” means material, other than material falling within paragraph (a) of subsection (1) which—

a

was considered by F36the regulator giving the notice in reaching the decision mentioned in that paragraph; or

b

was obtained by F37the regulator giving the notice in connection with the matter to which that notice relates but which was not considered by it in reaching that decision.

7

“Excluded material” means material which—

F7a

is material the disclosure of which for the purposes of or in connection with any legal proceedings is prohibited by F42section 56 of the Investigatory Powers Act 2016; or

c

is a protected item (as defined in section 413).