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Part XVIIU.K. Collective Investment Schemes

Chapter VU.K. Recognised Overseas Schemes

Schemes recognised under sections 270 and 272U.K.

280 Procedure.U.K.

(1)If the Authority proposes to give a direction under section 279 or to make an order under that section revoking a recognition order, it must give a warning notice to the operator and (if any) the trustee or depositary of the scheme.

(2)If the Authority decides to give a direction or make an order under that section—

(a)it must without delay give a decision notice to the operator and (if any) the trustee or depositary of the scheme; and

(b)the operator or the trustee or depositary may refer the matter to the Tribunal.

Modifications etc. (not altering text)

C1S. 280(1) extended (1.12.2001) by S.I. 2001/3592, arts. 1(2), 47(1), 48(1) (with art. 23(2))