Chwilio Deddfwriaeth

The Solvency 2 Regulations 2015

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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

Decisions: written notices

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55.—(1) On determining an application for the grant of an approval, the PRA must give the undertaking a written notice stating—

(a)its decision;

(b)the conditions (if any) to which the approval is subject;

(c)the reasons on which the decision is based; and

(d)if the approval is granted, the date on which the approval takes effect.

(2) Where the PRA varies or revokes an approval, it must give the undertaking concerned a written notice stating—

(a)that the approval is varied or revoked;

(b)the reasons on which the decision to vary or revoke the approval is based;

(c)if the approval is varied, the conditions (if any) to which the approval is subject; and

(d)the date on which the variation or revocation takes effect.

(3) Where the PRA gives a direction under regulation 58(2), it must give the undertaking concerned a written notice stating—

(a)the direction;

(b)the reasons on which the decision to give the direction is based; and

(c)the date on which the direction takes effect.

(4) Where the PRA varies or revokes a direction under regulation 58(3), it must give the undertaking concerned a written notice stating—

(a)that the direction is varied or revoked;

(b)the reasons on which the decision to vary or revoke the direction is based; and

(c)the date on which the variation or revocation takes effect.

(5) The date on which an approval takes effect under paragraph (1)(d) must not be before 1st January 2016.

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