C1C2C3 Part XII Control Over Authorised Persons

Annotations:
Modifications etc. (not altering text)
C1

Pt. 12 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a) (with art. 23(2))

C3

Pt. 12 excluded (26.7.2013 for specified purposes, 2.9.2013 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(5), 59(7)

F2Assessment procedure

Annotations:
Amendments (Textual)
F2

Ss. 178-191G and cross-headings substituted (21.3.2009) for ss. 178-191 and cross-headings by The Financial Services and Markets Act 2000 (Controllers) Regulations 2009 (S.I. 2009/534), reg. 3, Sch. 1 (with reg. 8)

X1190Requests for further information

1

 The F3appropriate regulator may, no later than the 50th working day of the assessment period, in writing ask the section 178 notice-giver to provide any further information necessary to complete its assessment.

F51A

But where a direction has been given by the Bank of England under section 189(1A), the appropriate regulator must, as soon as reasonably practicable, ask the section 178 notice-giver to provide any further information necessary to complete its assessment.

2

On the first occasion that the F3appropriate regulator asks for further information, the assessment period is interrupted from the date of the request until the date the F3appropriate regulator receives the requested information (“the interruption period”).

3

But the interruption period may not exceed 20 working days, unless subsection (4) applies.

4

The interruption period may not exceed 30 working days if the notice-giver—

a

is situated or regulated outside the F1European Union; or

b

is not subject to supervision under—

i

the UCITS directive;

ii

the insurance directives;

iii

the markets in financial instruments directive;

iv

the reinsurance directive; or

v

the F4capital requirements directive.

5

The F3appropriate regulator may make further requests for information (but a further request does not result in a further interruption of the assessment period).

6

The F3appropriate regulator must acknowledge in writing receipt of further information before the end of the second working day following receipt.