Explanatory Notes

Financial Services and Markets Act 2000

2000 CHAPTER 8

14 June 2000

Commentary on Sections

Part Xviii: Recognised Investment Exchanges and Clearing Houses

Chapter I: Exemption
Section 298: Directions and revocation: procedure

538.This section sets out the procedure the Authority must follow when it proposes to give a direction or make a revocation order.  This includes giving the recognised body, its members and third parties who might be affected the right to make written representations.  Subsection (7) allows the Authority to give a direction without following these procedures if it considers that it is essential to do so.