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Part VIIIU.K. [F1Provisions relating to market abuse]

Textual Amendments

Modifications etc. (not altering text)

C1Pt. VIII applied (with modifications) (18.6.2012) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), regs. 1(2)(b), 6, Sch. 1

Statement of policyU.K.

125 Statement of policy: procedure.U.K.

(1)Before issuing a statement of policy under section 124, the [F2FCA] must publish a draft of the proposed statement in the way appearing to the [F2FCA] to be best calculated to bring it to the attention of the public.

(2)The draft must be accompanied by notice that representations about the proposal may be made to the [F2FCA] within a specified time.

(3)Before issuing the proposed statement, the [F2FCA] must have regard to any representations made to it in accordance with subsection (2).

(4)If the [F2FCA] issues the proposed statement it must publish an account, in general terms, of—

(a)the representations made to it in accordance with subsection (2); and

(b)its response to them.

(5)If the statement differs from the draft published under subsection (1) in a way which is, in the opinion of the [F2FCA], significant, the [F2FCA] must (in addition to complying with subsection (4)) publish details of the difference.

(6)The [F2FCA] may charge a reasonable fee for providing a person with a copy of a draft published under subsection (1).

(7)This section also applies to a proposal to alter or replace a statement.

Textual Amendments

F2Word in ss. 121-130A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.