Procedure on revocation
This section has no associated Explanatory Memorandum
18.—(1) If the FCA proposes to revoke the registration of a small registered UK AIFM on the grounds mentioned in regulation 17(1)(a) or (b), the FCA must give the AIFM a warning notice.
(2) If the FCA decides to revoke the registration of a small registered UK AIFM on the grounds mentioned in regulation 17(1)(a) or (b)—
(a)the FCA must give the AIFM a decision notice, and
(b)the AIFM may refer the matter to the Tribunal.