Section 78A

A discontinuance or suspension by the FCA on the application of the issuer of the securities takes effect— immediately, if the notification under subsection (2) so provides; in any other case, on such date as may be provided for in that notification. If the FCA discontinues or suspends the listing of securities on the application of the issuer of the securities it must notify the issuer (whether in writing or otherwise). The notification must— notify the issuer of the date on which the discontinuance or suspension took effect or will take effect, and notify the issuer of such other matters (if any) as are specified in listing rules. If the FCA proposes to refuse an application by the issuer of the securities for the discontinuance or suspension of the listing of the securities, it must give him a warning notice. The FCA must, having considered any representations made in response to the warning notice, if it decides to refuse the application, give the issuer of the securities a decision notice. If the FCA decides to refuse an application by the issuer of the securities for the discontinuance or suspension of the listing of the securities, the issuer may refer the matter to the Tribunal. If the FCA has suspended the listing of securities on the application of the issuer of the securities and proposes to refuse an application by the issuer for the cancellation of the suspension, it must give him a warning notice. The FCA must, having considered any representations made in response to the warning notice— if it decides to refuse the application for the cancellation of the suspension, give the issuer of the securities a decision notice; if it grants the application, give him written notice of its decision. If the FCA decides to refuse an application for the cancellation of the suspension of listed securities, the applicant may refer the matter to the Tribunal. “Discontinuance” means a discontinuance of listing under section 77(1). “Suspension” means a suspension of listing under section 77(2).

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