F1F2Part 8AShort selling

Breach of short selling regulation etc

131KStatement of policy: procedure

(1)

Before issuing a statement under section 131J, the F3FCA must publish a draft of the proposed statement in the way appearing to the F3FCA to be best calculated to bring it to the attention of the public.

(2)

The draft must be accompanied by notice that representations about the proposal may be made to the F3FCA within a specified time.

(3)

Before issuing the proposed statement, the F3FCA must have regard to any representations made to it in accordance with subsection (2).

(4)

If the F3FCA issues the proposed statement it must publish an account, in general terms, of—

(a)

the representations made to it in accordance with subsection (2); and

(b)

its response to them.

(5)

If the statement differs from the draft published under subsection (1) in a way which is, in the opinion of the F3FCA, significant, the F3FCA must (in addition to complying with subsection (4)) publish details of the difference.

(6)

The F3FCA may charge a reasonable fee for providing a person with a copy of a draft published under subsection (1).

(7)

This section also applies to a proposal to alter or replace a statement.