Application of Part 26 of the 2000 ActU.K.
44. Part 26 (notices) of the 2000 Act M1 applies for the purposes of this Part as if—
(a)references to the PRA in that Part were omitted;
(b)each reference in that Part to either regulator were a reference to the FCA only;
(c)in section 387 (warning notices), subsections (1A) and (3A) were omitted;
(d)in section 388 (decision notices), subsections (1A) and (2) were omitted;
(e)in section 390 (final notices), in subsection (6) for “section 384(5)” there were substituted “ regulation 32 of the Small and Medium Sized Business (Credit Information) Regulations 2015 ”;
(f)in section 391 (publication)—
(i)in subsection (1) for “falling within subsection (1ZB)” there were substituted “ given under regulation 39 of the Small and Medium Sized Business (Credit Information) Regulations 2015 ”;
(ii)subsections (1ZA), (1ZB), (4A), (5), (5A), (6A), (7A), (7B), (8A), (8), (10) and (11) were omitted;
(g)section 391A were omitted;
(h)for section 392(a) and (b) (application of sections 393 and 394) there were substituted—
“(a)a warning notice given in accordance with regulation 39 of the Small and Medium Sized Business (Credit Information) Regulations 2015;
(b)a decision notice given in accordance with regulation 40 of those Regulations.”
(i)in section 395 (the FCA's and PRA's procedures)—
(i)for subsections (1) and (2) there were substituted—
“(1) The FCA must determine the procedure that it proposes to follow in relation to a decision which gives rise to an obligation for it to give a warning notice or decision notice.
(2) That procedure must be designed to secure, among other things, that a decision falling within subsection (1) is taken—
(a)by a person not directly involved in establishing the evidence on which the decision is based, or
(b)by two or more persons who include a person not directly involved in establishing that evidence.”;
(ii)subsections (3), (4), (9A) and (13) were omitted, and
(iii)in subsection (9), there were omitted “supervisory notice, or a” and “other than a warning notice or decision notice relating to a decision of the PRA that is required by a decision of the FCA of the kind mentioned in subsection (1)(b)(ii)”.
Marginal Citations
M1Part 26 is amended by paragraph 11 of Schedule 4 to the Regulation of Investigatory Powers Act 2000 (c.23), sections 13 and 24 of and paragraphs 28 and 29 of Schedule 2 to the Financial Services Act 2010, sections 17, 18, 19 and 24 of and paragraph 37 of Schedule 8, Schedule 9 and paragraph 8 of Schedule 13 to the Financial Services Act 2012, section 4 of and Schedule 3 to the Financial Services (Banking Reform) Act 2013, S.I. 2005/381, S.I. 2005/1433, S.I. 2007/126, S.I. 2007/1973, S.I. 2009/534, S.I. 2010/22, S.I. 2012/916, S.I. 2013/1388, S.I. 2013/3115 and S.I. 2014/2879.