Valid from 01/04/2007

Part 18A U.K.SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

Valid from 09/04/2010

[F1[F2313BBRevocation of requirements: applications by institutionsU.K.

(1)This section applies where the Authority has imposed a requirement on an institution or a class of institutions under section 313A.

(2)The institution or any of the institutions in the class may apply to the Authority for the revocation of the requirement.

(3)The Authority must decide whether to revoke the requirement.

(4)In the case of a requirement imposed on a class of institutions, the Authority may decide to revoke it in relation to—

(a)the class;

(b)the class apart from one or more specified members of it; or

(c)one or more specified members of the class only.

(5)The Authority must give a warning notice if—

(a)in the case of a requirement imposed on an institution, the Authority proposes not to revoke the requirement, or

(b)in the case of a requirement imposed on a class, the Authority proposes to make a decision which would have the effect that the requirement continues to apply to the applicant (whether or not it would have the effect that it continues to apply to other members of the class).

(6)The warning notice must be given to—

(a)the applicant, and

(b)the issuer of the financial instrument in question (if any).]]

Textual Amendments