SCHEDULE 5Amendment of authorisation
Notice of intention
3
(1)
Before amending the approved regulator's authorisation, the Scottish Ministers must give it a notice (a “notice of intention”) of their intention to do so.
(2)
The notice of intention must—
(a)
state that the Scottish Ministers intend to amend the approved regulator's authorisation,
(b)
specify the proposed amendments to the authorisation, and
(c)
explain why they are satisfied as mentioned in paragraph 1.