[87O [Procedure under sections 87JA, 87K, 87L and 87LA]]
[87O [Procedure under sections 87JA, 87K, 87L and 87LA]]

[(1)     A requirement under section 87K[, 87L or 87LA, or a suspension under section 87JA(1),] 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 the [FCA]—

(a)     proposes to exercise the powers in section [87JA, 87K, 87L or 87LA] in relation to a person, or

(b)     exercises any of those powers in relation to a person with immediate effect,

it must give that person written notice.

(3)     The notice must—