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The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007

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14.  In section 307 of the Act(1) (recognition orders: role of the Treasury), after subsection (4) insert—

(5) Subsection (6) applies in the case of an application for recognition under section 287, other than an application by an overseas applicant.

(6) The Treasury must decide whether to approve the application before the end of the period of 10 days beginning with—

(a)in a case falling within subsection (2)(a) or (3)(a) of section 306, the date on which they receive a copy of the report under that section or, if no such report was made, of the statement under subsection (5) of that section;

(b)in any other case, the date on which they receive a copy of the report from the OFT under section 303..

(1)

Section 307 was amended by the Enterprise Act 2002 (c. 40), section 278 and Schedule 25.

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