C1 Part XVIII Recognised Investment Exchanges and Clearing Houses

Annotations:
Modifications etc. (not altering text)

F1CHAPTER 1ACONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Annotations:
Amendments (Textual)

Assessment procedure

301GAssessment: Procedure

1

 The F2FCA must act under section 301F within a period three months from the date the F2FCA receives the completed section 301A notice (“the assessment period”).

2

The F3FCA must inform the section 301A notice-giver in writing of—

a

the duration of the assessment period; and

b

its expiry date.

3

The F3FCA must, within two working days of acting under section 301F (and in any event no later than the expiry date of the assessment period)—

a

notify the section 301A notice-giver that it has determined to approve the acquisition; or

b

in the case of a proposed objection to an acquisition, give a warning notice.

4

The F3FCA is treated as having approved the acquisition if, at the expiry of the assessment period, it has neither—

a

given notice under subsection (3); nor

b

informed the section 301A notice-giver that the notice is incomplete.

5

If the F3FCA decides to object to an acquisition it must give the section 301A notice-giver a decision notice.

6

Following receipt of a decision notice under this section, the section 301A notice-giver may refer F4the FCA's decision to the Tribunal.