The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

Substitution of proceedings under the Act for proceedings before interim tribunal

64.—(1) This article applies to a notice given by the Authority to a person in discipline which is—

(a) a notice under section 53(4) that it proposes to vary, or varies with immediate effect, that person’s Part IV permission;

(b) a warning notice under section 54(1) stating that it proposes to cancel his Part IV permission;

(c) a warning notice under section 63(3) stating that it proposes to withdraw approval under section 63(1);

(d) a warning notice under section 67(1) stating that it proposes to take action under section 66 (as applied by article 9 of the Civil Remedies Order);

(e) a warning notice under section 207(1) stating that it proposes to take action under section 205 or 206 (as applied by articles 7 and 8 of the Civil Remedies Order);

(f) a notice under section 197(3) that it proposes to impose, or imposes with immediate effect, a requirement under section 196;

(g) a warning notice under section 385(1) stating that it proposes to exercise the power under section 384(5) (as applied by article 3 of the Civil Remedies Order); or

(h) a decision notice pursuant to article 68, 69, 70, 71, 73, 74 or 75,

provided in each case that the reasons stated in the notice why the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which the person to whom the notice is given was subject immediately before commencement (“the corresponding incomplete disciplinary proceedings”).

(2) The Authority may not after giving a notice to which this article applies, refer the corresponding incomplete disciplinary proceedings to the interim tribunal under article 58(1).

(3) If the Authority gives a notice to which this article applies after having referred the corresponding incomplete disciplinary proceedings to the interim tribunal under article 58(1), the proceedings before the interim tribunal lapse, without prejudice to the power of the interim tribunal under article 89(4).