Part XVII Collective Investment Schemes

F1CHAPTER 3AAUTHORISED CONTRACTUAL SCHEMES

Applications refused

261G.Procedure when refusing an application

(1)

If the FCA proposes to refuse an application made under section 261C, it must give each of the applicants a warning notice.

(2)

If the FCA decides to refuse the application—

(a)

it must give each of the applicants a decision notice; and

(b)

either applicant may refer the matter to the Tribunal.