Part XVIII

Recognised investment exchanges, clearing houses , CSDs and other parties
CHAPTER 2A

Performance of functions of recognised bodies

Prohibition

Varying and withdrawing Part 18 prohibition orders
309D
1
This section applies where the appropriate regulator has made a Part 18 prohibition order in relation to an individual.
2
The appropriate regulator may vary or revoke the Part 18 prohibition order on the application of the individual.
3
Before varying or revoking a Part 18 prohibition order, the appropriate regulator must comply with such consultation requirements as may be prescribed.
4
On an application for the variation or revocation of a Part 18 prohibition order—
a
if the appropriate regulator decides to grant the application, it must give the applicant written notice of its decision;
b
if the appropriate regulator proposes to refuse the application, it must give the applicant a warning notice;
c
if the appropriate regulator decides to refuse the application, it must give the applicant a decision notice.
5
If the appropriate regulator gives the applicant a decision notice under subsection
(4)(c)
, the applicant may refer the matter to the Tribunal.
Pt. 18 applied in part (with modifications) (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2 (as amended (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 37 (with regs. 7(4), 9(1)))
Pt. 18 heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(8) (with regs. 7(4), 9(1))
Words in Pt. 18 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 18(2), 86(3); S.I. 2023/779, reg. 4(m)
Pt. 18 Ch. 2A inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 1