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Part 5E+W+SOperating Licences

MaintenanceE+W+S

103Section 102: supplementalE+W+S

(1)The Secretary of State may by regulations provide for section 102 not to apply to the holder of a specified description of operating licence.

(2)An application under section 102(2)(b) must be accompanied by the prescribed fee.

(3)An application may be made under section 102(2)(b) in respect of a person who is expected to become a controller of a company.

(4)The Commission shall as soon as is reasonably practicable inform an applicant under section 102(2)(b) of—

(a)the Commission's decision, and

(b)the reasons for it.

(5)In giving a direction under section 102(3) the Commission shall have regard to normal commercial practices in relation to the confidentiality of information.

(6)Regulations under subsection (2) above may, in particular, provide for a reduction of fee where the application is a result of—

(a)the merger of more than one company, or

(b)the division of a company.

(7)Revocation of an operating licence under section 102 shall be treated for all purposes (including the application of section 119) as revocation under section 119.

Modifications etc. (not altering text)

Commencement Information

I1S. 103 in force at 1.1.2007 by S.I. 2006/3272, art. 2(1), Sch. 1 (with arts. 7-11, 7-12, Sch. 4)