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Financial Services and Markets Act 2000

Section 393: Third party rights

690.Where this section applies (see section 392 above) it confers rights on any person (a “third party”) who is identified in prejudicial terms in the reasons contained in a warning notice or decision notice.    Third parties are given the right to receive a copy of the notice, and to make representations or refer the matter to the Tribunal in the same way as the person who is the subject of the Authority’s proposed action.  However subsections (2) and (6) provide that a third party does not need to be given a copy of a notice which identifies him if a separate warning or decision notice has been given to him in relation to the same matter, and subsection (7) provides a further exception where it is impracticable to contact the third party.

691.Subsection (13) provides that third party notices must describe the rights which third parties also have under section 394 below.  Subsections (5) and (14) provide a third party with rights to receive copies of subsequent notices in relation to the same matter.

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