(1) If the FCA -
(a) proposes to exercise the powers in any of regulations 34 to 37 in relation to a person, or
(b) exercises any of those powers in relation to a person with immediate effect, it must give that person written notice.
(2) A requirement under any of regulations 34 to 37 takes effect -
(a) immediately, if the notice under paragraph (1) states that that is the case;
(b) in any other case, on such date as may be specified in that notice.
(3) The notice under paragraph (1) must -
(a) give details of the FCA’s action or proposed action;
(b) state the FCA’s reasons for taking the action in question and choosing the date on which it took effect or takes effect;
(c) inform the recipient that the recipient may make representations to the FCA within such period as may be specified by the notice (whether or not the recipient has referred the matter to the Tribunal);
(d) inform the recipient of the date on which the action takes effect or took effect, and
(e) inform the recipien
…