(1) If it appears to the FCA that an external valuer has failed to comply with an implementing provision applicable to it, it may disqualify the valuer from acting as an external valuer, or from so acting for any particular class of AIFs.
(2) If the FCA proposes to disqualify a valuer under this section, it must give the valuer a warning notice.
(3) If the FCA decides to disqualify a valuer -
(a) it must give the valuer a decision notice; and
(b) the valuer may refer the matter to the Tribunal.
(4) The FCA may remove any disqualification imposed under this regulation if satisfied the disqualified person will in future comply with the implementing provisions.