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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 29 June 2017 - onwards
  Version 3 of 3    

412B. Procedure for approval and suspension or withdrawal of approval

Omitted from 29 June 2017

(1) If the FCA approves a relevant system, it must give the operator of the system written notice specifying the date from which the approval has effect.

(2) If the FCA proposes to refuse to approve a relevant system, it must give the operator of the system a warning notice.

(3) If the FCA decides to refuse to approve a relevant system, it must give the operator of the system a decision notice.

(4) If the FCA proposes to suspend or withdraw its approval in relation to an approved relevant system, it must give the operator of the system a warning notice.

(5) If the FCA decides to suspend or withdraw its approval in relation to an approved relevant system, it must give the operator of the system a decision notice specifying the date from which the suspension or withdrawal is to take effect.

(6) Subsections (7) to (9) apply if -

(a) the FCA has suspended its approval in relation to an approved relevant system, and

(b) the operator of the system has applied for the suspension to be ca

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