Section 88F

Action against a sponsor under section 88E takes effect— immediately, if the notice given under subsection (3) so provides, or on such later date as may be specified in the notice. If the FCA— it must give the sponsor written notice. proposes to take action against a sponsor under that section, or takes action against a sponsor under that section with immediate effect, The notice must— give details of the action, state the FCA's reasons for taking the action and for its determination as to when the action takes effect, inform the sponsor that the sponsor may make representations to the FCA within such period as may be specified in the notice (whether or not the matter has been referred to the Tribunal), inform the sponsor of when the action takes effect, inform the sponsor of the right to refer the matter to the Tribunal, and give an indication of the procedure on such a reference. The FCA may extend the period allowed under the notice for making representations. If the FCA decides— the FCA must give the sponsor written notice. to take the action in the way proposed, or if the action has taken effect, not to rescind it, If the FCA decides— the FCA must give the sponsor written notice. not to take the action in the way proposed, to take action under section 88E that differs from the action originally proposed, or to rescind action which has taken effect, A notice under subsection (5) must— inform the sponsor of the right to refer the matter to the Tribunal, and give an indication of the procedure on such a reference. A notice under subsection (6)(b) must comply with subsection (3).

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