78 Discontinuance or suspension: procedure

78  Discontinuance or suspension: procedure

(1)     A discontinuance or suspension [by the [FCA] on its own initiative] takes effect—

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

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

(2)     If [on its own initiative] the [FCA]—

(a)     proposes to discontinue or suspend the listing of securities, or

(b)     discontinues or suspends the listing of securities with immediate effect,

it must give the issuer of the securities written notice.

(3)     The notice must—

(a)     give details of the discontinuance or suspension;

(b)     state the [FCA's] reasons for the discontinuance or suspension and for choosing the date on which it took

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