Part 18A

SUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

Decisions on applications for revocation by issuers
313BE
1
This section applies where, having considered any representations made in response to a warning notice, the
FCA
has decided whether to grant an application for revocation made under section 313BD.
2
The
FCA
must give written notice to the issuer if the
FCA
decides to revoke the requirement.
3
If the
FCA
is required to give written notice under subsection (2) in relation to a requirement imposed on a class, the
FCA
must also give notice of its decision by publishing it by means of a regulatory information service.
4
The
FCA
must give the issuer a decision notice if—
a
in the case of a requirement imposed on an institution, the
FCA
decides not to revoke the requirement, or
b
in the case of a requirement imposed on a class, the
FCA
decides not to revoke the requirement or makes a decision to revoke the requirement in relation to—
i
the class apart from one or more specified members of it, or
ii
one or more specified members of the class only.
5
If the
FCA
is required to give a decision notice under subsection (4)(b), it must also give notice of its decision by publishing it by means of a regulatory information service.
6
If the
FCA
gives a decision notice under subsection (4), the issuer may refer the matter to the Tribunal.
Pt. 18A inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(3), Sch. 3 para. 1
Ss. 313BA-313BE inserted (9.4.2010) by The Financial Services and Markets Act 2000 (Amendments to Part 18A etc.) Regulations 2010 (S.I. 2010/1193), reg. 4
Pt. 18A: power to amend conferred (1.9.2023) by Financial Services Act 2021 (c. 22), ss. 22(8)(b), 49(5); S.I. 2023/934, reg. 2(c)
Word in Pt. 18A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 36(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.