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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 3 July 2016 - onwards
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121. Codes: procedure

Omitted from 3 July 2016

(1) Before issuing a code under section 119, the FCA must publish a draft of the proposed code in the way appearing to the FCA to be best calculated to bring it to the attention of the public.

(2) The draft must be accompanied by -

(a) a cost benefit analysis; and

(b) notice that representations about the proposal may be made to the FCA within a specified time.

(3) Before issuing the proposed code, the FCA must have regard to any representations made to it in accordance with subsection (2)(b).

(4) If the FCA issues the proposed code it must publish an account, in general terms, of -

(a) the representations made to it in accordance with subsection (2)(b); and

(b) its response to them.

(5) If the code differs from the draft published under subsection (1) in a way which is, in the opinion of the FCA, significant -

(a) the FCA must (in addition to complying with subsection (4)) publish details of the difference; and

(b) those details must be accompanied by a cost benefit analysis.

(6)

Comparing proposed amendment...