SCHEDULE 6Rescission of authorisation
Notice of intention
3
(1)
Before rescinding 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 rescind the approved regulator's authorisation,
(b)
explain why they are satisfied as mentioned in paragraph 1.