(1) If the FCA or the PRA proposes -

(a) to give a direction to a society under section 54 or section 55, or to vary such a direction other than at the request of the society, or

(b) to give a direction in relation to a society under section 90,

it must give the society a warning notice.

(2) The warning notice must set out the terms of the direction which the FCA or the PRA proposes to give and, in the case of a proposal to give a direction under section 54 or 55, any provisions which the FCA or the PRA proposes to include in the direction by virtue of section 54(4) (including that provision as applied by section 55(3)).

(3) If the FCA or the PRA decides -

(a) to give a direction to a society under section 54 or section 55, or to vary such a direction other than at the request of the society, or

(b) to give a direction in relation to a society under section 90,

it must give the society a decision notice.