276 Procedure when refusing an application
276 Procedure when refusing an application

(1)     If the [FCA] proposes to refuse an application made under section 272 it must give the applicant a warning notice.

(2)     If the [FCA] decides to refuse the application—

(a)     it must give the applicant a decision notice; and

(b)     the applicant may refer the matter to the Tribunal.