8.—(1) The Secretary of State may withdraw the approval of a redress scheme.
(2) Before withdrawing approval of a scheme, the Secretary of State must give the scheme administrator a notice stating —
(a)that the Secretary of State proposes to withdraw approval of the scheme;
(b)the reasons for the proposed withdrawal of approval; and,
(c)that representations about the proposed withdrawal of approval may be made within such period of not less than 14 days as is specified in the notice.
(3) If approval is withdrawn, the Secretary of State must serve on the scheme administrator a notice stating—
(a)that approval of the scheme is to be withdrawn;
(b)the reasons why approval is to be withdrawn; and
(c)the date on which withdrawal of approval is to take effect.
(4) If the Secretary of State withdraws approval of the scheme, the scheme administrator must give a copy of the notice served by the Secretary of State under paragraph (3) to every member of the scheme before the end of the period of 30 days beginning with the day on which the scheme administrator first received the notice.