[122IA Power to suspend auctioning of auctioned products on a recognised auction platform]
[122IA Power to suspend auctioning of auctioned products on a recognised auction platform]

[(1)     The FCA may suspend the auctioning of a relevant auctioned product at an auction conducted by a recognised auction platform where it considers it necessary for the purpose of the exercise by it of functions under the market abuse regulation or a supplementary EU regulation.

(2)     If the FCA does so the recognised auction platform may refer the matter to the Tribunal.

(3)     A suspension by the FCA takes place—

(a)     immediately, if the FCA specify this is the case, or

(b)     on such later date as the FCA specify.

(4)     The FCA may—

(a)     cancel a suspension under subsection (1), and

(b)     impose such conditions for the cancellation to take effect as it considers appropriate.