Part XVIII

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

Performance of functions of recognised bodies

Approval

Statement of policy on approval
309S
1
The appropriate regulator must prepare and issue a statement of its policy with respect to—
a
the giving of approval under section
309G
subject to conditions or for a limited period only, and
b
the variation under section
309Q
or
309R
of an approval given under section
309G
.
2
The appropriate regulator—
a
may alter or replace a statement issued under this section, and
b
if it does so, must issue the altered or replacement statement.
3
Before the appropriate regulator issues a statement of policy under this section, it must publish a draft of the proposed statement in the way appearing to it to be best calculated to bring it to the attention of the public.
4
The draft statement must be accompanied by a notice stating that representations about the proposal may be made to the appropriate regulator within a period specified in the notice.
5
Before issuing the proposed statement, the appropriate regulator must have regard to any representations made to it in accordance with subsection
(4)
.
6
If the appropriate regulator issues the proposed statement it must publish the following in the way appearing to it to be best calculated to bring them to the attention of the public—
a
the statement,
b
an account, in general terms, of the representations made to it in accordance with subsection
(4)
and its response to them, and
c
if the statement issued differs from the draft published under subsection
(3)
in a way which the appropriate regulator considers to be significant, details of the difference.
7
The appropriate regulator may charge a reasonable fee for providing a person with—
a
a copy of a draft statement published under subsection
(3)
, or
b
a copy of a statement published under subsection
(6)(a)
.
8
The appropriate regulator must, without delay, give the Treasury a copy of each statement it publishes under subsection
(6)(a)
.
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