[89V Action under s 89U: procedure]
[89V Action under s 89U: procedure]

[(1)     Action against a provider under section 89U takes effect—

(a)     immediately, if the notice given under subsection (2) so provides, or

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

(2)     If the FCA—

(a)     proposes to take action against a provider under that section, or

(b)     takes action against a provider under that section with immediate effect,

it must give the provider written notice.

(3)     The notice must—

(a)     give details of the action,

(b)     state the FCA's reasons for taking the action and for its determination as to when the action takes effect,

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