(1) On making a decision referred to in regulation 16(b) or 19, the FCA must notify its decision to the applicant or securitisation repository concerned.
(2) A refusal of an application for registration or an extension of registration under regulation 16(b) comes into effect on the fifth working day after it is made.
(3) A withdrawal of registration under regulation 19(3) takes effect -
(a) immediately upon the making of the decision if the notice states that is the case,
(b) on such date as may be specified in that notice, or
(c) if no date is specified in the notice, when the matter to which the notice relates is no longer open to review.
(4) A decision to withdraw registration on the FCA’s own initiative under regulation 19(1) or (2) may be expressed to take effect immediately or on a specified date only if the FCA, having regard to the ground on which it is exercising its power reasonably considers that it is necessary for the withdrawal to take effect immediately or on that date
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