http://www.legislation.gov.uk/ukpga/2012/21/section/32/2013-03-19Financial Services Act 2012An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.texttext/xmlenStatute Law Database2026-04-20Expert Participation2013-03-19 PART 2 Amendments of Financial Services and Markets Act 2000<Emphasis>Recognised investment exchanges and clearing houses</Emphasis>Recognised bodies: procedure for giving directions under s.296 <Abbreviation Expansion="Et cetera" xml:lang="la">etc</Abbreviation>321Section 298 of FSMA 2000 (directions under section 296 and revocation orders under section 297(2) or (2A): procedure) is amended as follows.2In subsection (1), omit paragraphs (b) and (c) (requirements to bring notice to attention of members of the body and other persons).3In subsection (3), omit paragraphs (b) and (c) (members of the body and other persons may make representations).4For subsection (4) substitute—4The period for making representations is such period as is specified in the notice (which may, in any particular case, be extended by the appropriate regulator).5In subsection (6), omit paragraph (b) (notice of decision to members of the body and others) and the “and” before it.6In subsection (7), for “considers it essential” substitute “ reasonably considers it necessary ”.