Section 261Z2

If on an application under section 261X(6) for a direction to be revoked or varied the FCA proposes— it must give the applicant a warning notice. to vary the direction otherwise than in accordance with the application, or to refuse to revoke or vary the direction, If the FCA decides to refuse to revoke or vary the direction— it must give the applicant a decision notice; and the applicant may refer the matter to the Tribunal.

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