[143O Exercise of own-initiative power under section 143K]

[143O  Exercise of own-initiative power under section 143K]

[(1)     The imposition or variation of a requirement by the FCA under section 143K(2) takes effect—

(a)     immediately, if the notice given under subsection (3) states that is the case,

(b)     on such date as may be specified in the 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.

(2)     The imposition or variation of the requirement may be expressed to take effect immediately, or on a specified date, only if the FCA reasonably considers that it is necessary for it to take effect immediately or on that date, having regard to the ground on which it is exercising its power under section 14

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