Part XVII

Collective Investment Schemes
Chapter V

Recognised Overseas Schemes

Schemes authorised in approved countries

Procedure when determining an application
271H
1
If the FCA decides to make an order under section 271A granting an application under that section, it must give written notice of its decision to the applicant.
2
If the FCA proposes to refuse an application under section 271A, it must give the applicant a warning notice.
3
If the FCA decides to refuse the application, it must give the applicant a decision notice.
4
If the FCA gives the applicant a decision notice under subsection (3), the applicant may refer the matter to the Tribunal, except where the FCA refuses the application on the ground that it is not satisfied that a condition in section 271G(2)(a) or (c) is met.
Pt. 17 modified (20.2.2019) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(3), 62 (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 12(b))
Ss. 271A-271S and cross-heading inserted (23.2.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 9 para. 1; S.I. 2022/163, reg. 2(a)