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Section 388(1)

FSMA 2000

A decision notice must— be in writing; give the reasons of the regulator giving the notice (“the regulator concerned”) for the decision to take the action to which the notice relates; state whether section 394 applies; if that section applies, describe its effect and state whether any secondary material exists to which the person concerned must be allowed access under it; and give an indication of— any right to have the matter referred to the Tribunal which is given by this Act; and the procedure on such a reference.

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