The Tribunal Procedure (Upper Tribunal) Rules 2008 No. 2698 (L. 15)

[F1 SCHEDULE 3 Procedure in financial services cases

Textual Amendments

F1 Sch. 3 inserted (6.4.2010) by The Tribunal Procedure (Upper Tribunal) (Amendment) Rules 2010 (S.I. 2010/747), rules 1, 13

Interpretation

1.   In this Schedule—

[F2 “further material” means—

(a)

in a single regulator case, documents which—

(i)

were considered by the respondent in reaching or maintaining the decision to give the notice in respect of which the reference has been made; or

(ii)

were obtained by the respondent in connection with the matter to which that notice relates (whether they were obtained before or after giving the notice) but which were not considered by it in reaching or maintaining that decision;

but does not include documents on which the respondent relies in support of the referred action;

(b)

in a multiple regulator case—

(i)

in relation to a respondent who is the primary regulator, documents which—

(aa)

were considered by that regulator in reaching or maintaining its decision to give the notice in respect of which the reference has been made; or

(bb)

were obtained by that regulator in connection with the matter to which that notice relates (whether they were obtained before or after the notice was given) but which were not considered by that regulator in reaching or maintaining its decision;

(ii)

in relation to a respondent who is the secondary regulator, documents which—

(aa)

were considered by that regulator in reaching or maintaining its decision to take the secondary regulator action in relation to the notice in respect of which the reference has been made; or

(bb)

were obtained by that regulator in connection with the matter to which that notice relates (whether they were obtained before or after the notice was given) but which were not considered by that regulator in reaching or maintaining its decision;

but does not include documents on which either the primary regulator or the secondary regulator relies;]

[F3 “multiple regulator case” means a case where—

(a)

any of the Financial Conduct Authority, the Prudential Regulation Authority or the Bank of England has given the notice in respect of which the reference has been made; and

(b)

such notice stated that another of those regulators had decided to take one of the following actions—

(i)

i)to refuse a consent where such consent is required under the 2000 Act;

(ii)

to give a conditional consent under the 2000 Act; or

(iii)

to direct another regulator to take an action or not to take an action under the 2000 Act;”]

[F3 “primary regulator” means, in a multiple regulator case, the regulator giving the notice;]

[F3 “secondary regulator action” means an action taken by a secondary regulator, as stated in the notice given by the primary regulator;]

[F3 “secondary regulator” means, in a multiple regulator case, a regulator specified in the notice other than the primary regulator;]

[F3 “single regulator case” means a case that is not a multiple regulator case;]

“reference notice” means the written notice required in making a reference in a financial services case;

[F4 “referred action” means—

(a)

in a single regulator case, the act (or proposed act) on the part of the respondent that gave rise to the reference; and

(b)

in a multiple regulator case, the act (or proposed act) on the part of the primary regulator that gave rise to the reference;]

“the 2000 Act” means the Financial Services and Markets Act 2000.]

Textual Amendments

F2 Words in Sch. 3 para. 1 substituted (1.4.2013) by The Tribunal Procedure (Amendment No. 2) Rules 2013 (S.I. 2013/606), rules 1, rule 2(4)(b)

F3 Words in Sch. 3 para. 1 inserted (1.4.2013) by The Tribunal Procedure (Amendment No. 2) Rules 2013 (S.I. 2013/606), rules 1, 2(4)(a)

F4 Words in Sch. 3 para. 1 substituted (1.4.2013) by The Tribunal Procedure (Amendment No. 2) Rules 2013 (S.I. 2013/606), rules 1, rule 2(4)(c)