[(1) This section applies where, having considered any representations made in response to a warning notice, the [FCA] has decided whether to grant an application for revocation made under section 313BB.
(2) The [FCA] must give written notice in accordance with subsection (3) if—
(a) in the case of a requirement imposed on an institution, the [FCA] decides to revoke the requirement, or
(b) in the case of a requirement imposed on a class, the [FCA] makes a decision which has the effect that the requirement will no longer apply to the applicant (whether or not it will continue to
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