Section 261Q(6)

Effect is not to be given to any proposal of which notice has been given under subsection (2), (4) or (5) unless— the FCA, by written notice, has given its approval to the proposal; or one month, beginning with the date on which the notice was given, has expired without the operator or the depositary having received from the FCA a warning notice under section 261R in respect of the proposal.

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Source: legislation.gov.uk · retrieved 2026-09-04