[88B Action under s 88A: procedure and right to refer to Tribunal]
[88B Action under s 88A: procedure and right to refer to Tribunal]

[(1)     If the FCA proposes to take action against a sponsor under section 88A, it must give the sponsor a warning notice.

(2)     A warning notice about a proposal to impose a penalty must state the amount of the penalty.

(3)     A warning notice about a proposal—

(a)     to suspend an approval, or

(b)     to impose a restriction in relation to the performance of a service,

must state the period for which the suspension or restriction is to have effect.

(4)     A warning notice about a proposal to publish a statement must set out the terms of the statement.

(5)     If the FCA decides to take action against a sponsor under section 88A, it must give the sponsor a decision notice.