[F1261G.Procedure when refusing an applicationU.K.
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(1)If the FCA proposes to refuse an application made under section 261C, it must give each of the applicants a warning notice.
(2)If the FCA decides to refuse the application—
(a)it must give each of the applicants a decision notice; and
(b)either applicant may refer the matter to the Tribunal.]
Textual Amendments
F1Pt. 17 Ch. 3A inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(12) (with reg. 24)