(1) This section applies where the FCA considers that -

(a) a requirement imposed by regulations under section 271E has been contravened,

(b) rules made under section 271K have been contravened,

(c) the operator of a section 271A scheme has contravened section 271I, 271J or 271P, or

(d) the operator of a section 271A scheme has contravened a rule made, or a requirement imposed, under section 283.

(2)The FCA may publish a statement to that effect.

(3) Where the FCA proposes to publish a statement under subsection (2) relating to a scheme or the operator of a scheme, it must give the operator a warning notice setting out the terms of the statement.

(4) If the FCA decides to publish the statement -

(a) it must give the operator, without delay, a decision notice setting out the terms of the statement, and

(b) the operator may refer the matter to the Tribunal.