F2Part 18ASUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

Annotations:
Amendments (Textual)

313BCF1Decisions on applications for revocation by institutions

1

This section applies where, having considered any representations made in response to a warning notice, the F3FCA has decided whether to grant an application for revocation made under section 313BB.

2

The F3FCA must give written notice in accordance with subsection (3) if—

a

in the case of a requirement imposed on an institution, the F3FCA decides to revoke the requirement, or

b

in the case of a requirement imposed on a class, the F3FCA makes a decision which has the effect that the requirement will no longer apply to the applicant (whether or not it will continue to apply to other members of the class).

3

The written notice must be given to—

a

the applicant, and

b

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

4

If the F3FCA is required to give written notice under subsection (2) in relation to a requirement imposed on a class, the F3FCA must also give notice of its decision by publishing it by means of a regulatory information service.

5

The F3FCA must give a decision notice in accordance with subsection (6) if—

a

in the case of a requirement imposed on an institution, the F3FCA decides not to revoke the requirement, or

b

in the case of a requirement imposed on a class, the F3FCA makes a decision which has the effect that the requirement will continue to apply to the applicant (whether or not it will continue to apply to other members of the class).

6

The decision notice must be given to—

a

the applicant, and

b

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

7

If the F3FCA is required to give a decision notice in relation to a requirement imposed on a class, the F3FCA must also give notice of its decision by publishing it by means of a regulatory information service.

8

If the F3FCA gives a decision notice, the recipient may refer the matter to the Tribunal.