The Financial Services Act 2012 (Transitional Provisions) (Enforcement) Order 2013

Decision notices

21.—(1) Paragraph (2) applies where, before the commencement date, the Authority gave a decision notice under FSMA 2000.

(2) The FCA may make a transfer election (see article 24) in relation to the whole or part of the decision notice provided that, before the transfer election is made—

(a) the decision notice was not referred to the Tribunal; or

(b) where the decision notice was referred to the Tribunal—

(i) the Tribunal remitted the matter to the Authority without an appeal being made in relation to the determination of the Tribunal, or

(ii) if such an appeal was brought, it was determined, and

the FCA had not given a final notice, a notice of discontinuance or a further decision notice.

(3) This article does not apply to a decision notice given under any of the following provisions—

(a) section 52(9) (determination of applications);

(b) section 189(7) (assessment: procedure);

(c) section 191A(6) (objection);

(d) section 321(9) (requirements imposed under section 320);

(e) section 345(3) (disqualification), whether as a result of section 345 or of section 249;

(f) paragraph 19(12) of Schedule 3 (establishment).