(1) This section applies where, having considered any representations made in response to a warning notice, the FCA has decided whether to grant an application for revocation made under section 313BB.

(2) The FCA must give written notice in accordance with subsection (3) if -

(a) in the case of a requirement imposed on an institution, the FCA decides to revoke the requirement, or

(b) in the case of a requirement imposed on a class, the FCA makes a decision which has the effect that the requirement will no longer apply to the applicant (whether or not it will continue to apply to other members of the class).

(3) The written notice must be given to -

(a) the applicant, and

(b) the issuer of the financial instrument in question (if any).

(4) If the FCA is required to give written notice under subsection (2) in relation to a requirement imposed on a class, the FCA must also give notice of its decision by publishing it by means of a regulatory information service.

(5) The FCA must give a decision notice in accordance with subsection (6) if -