269 Procedure on application for variation or revocation of direction
269 Procedure on application for variation or revocation of direction

(1)     If, on an application under subsection (4) or (5) of section 267, the [FCA] proposes—

(a)     to vary a direction otherwise than in accordance with the application, or

(b)     to refuse the application,

it must give the operator of the scheme concerned a warning notice.

(2)     If, on such an application, the [FCA] decides—

(a)     to vary a direction otherwise than in accordance with the application, or

(b)     to refuse the application,

it must give the operator of the scheme concerned a decision notice.

(3)     If the application is refused, the operator of the scheme may refer the matter to the Tribunal.

(4)     If, on such an application, the [FCA] decides to grant the application it must give the operator of the scheme concerned written notice.

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