Section 55X(1)

If a regulator proposes— it must give the applicant a warning notice. to give a Part 4A permission but to exercise its power under section 55E(5)(a) or (b) or 55F(4)(a) or (b), to give a Part 4A permission but to exercise its power under section 55L(1) or 55M(1) in connection with the application for permission, to vary a Part 4A permission on the application of an authorised person but to exercise its power under section 55E(5)(a) or (b) or 55F(4)(a) or (b), to vary a Part 4A permission but to exercise its power under section 55L(1) or 55M(1) in connection with the application for variation, ... in the case of the FCA, to exercise its power under section 55L(1) in connection with an application to the PRA for a Part 4A permission or the variation of a Part 4A permission, to give permission under section 55NA but to exercise its power under subsection (4)(b) of that section, or to vary permission under section 55NA on the application of an authorised person but to exercise its power under subsection (4)(b) of that section,

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