[Part 18A Suspension and Removal of Financial Instruments from Trading] (ss [313A-[313D)
[Part 18A Suspension and Removal of Financial Instruments from Trading] (ss [313A-[313D)

[313A [FCA's] power to require suspension or removal of financial instruments from trading]

[(1)     The [FCA] may, for the purpose of protecting—

(a)     the interests of investors, or

(b)     the orderly functioning of the financial markets,

require an institution [or a class of institutions] to suspend or remove a financial instrument from trading.

[(2)     If the [FCA] exercises the power conferred by subsection (1), the matter may be referred to the Tribunal by—

(a)     the institution or, as the case may be, any institution in the class, or

(b)     the issuer of the financial instrument (if any).]

(3)     In this section, “trading” includes trading otherwise than on a [trading venue].]


[313B Suspension or removal of financial instruments from trading: procedure]

[(1)     A requirement imposed on an institution under section 313A (a “relevant requirement”) takes effect—

(a)     immediately, if the notice given under subsection (2) states that this is the case;

(b)     in any other case, on such date as may be specified in the notice.

(2)     If the [FCA] proposes to impose a relevant requirement on an institution, [or a class of institutions,] or imposes such a requirement with immediate effect, it must [give notice—

(a)     by written notice to—

(i)     the institution or, as the case may be, each institution in the class, and

(ii)     the issuer of the financial instrument in question (if any); or

(b)     by publishing a notice by means of a regulatory information service].

(3)     [A notice given under subsection (2)(a)] must—

(a)     give details of the relevant requirement;

(b)     state the [FCA's] reasons for imposing the requirement and choosing the date on which it took effect or takes effect;

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