Section 82

Sections 389 (notices of discontinuance), 390 (final notices) and 392 (application of sections 393 and 394) to 395 (the FCA's and PRA's procedures) of FSMA apply in relation to a warning notice given under regulation 81(2) and a decision notice given under regulation 81(6) as they apply in relation to a warning notice or decision notice given under FSMA, subject to paragraphs (2) to (3). Section 390 of FSMA has effect as if— for subsection (4) there were substituted— A final notice about a cancellation, suspension, limitation or other restriction under regulation 77 or 78 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“the 2017 Regulations”) must— specify the permission, authorisation or registration which is being cancelled, suspended or the terms of the limitation or other restriction being imposed, and give details of— the date on which the cancellation, suspension, limitation or other restriction has effect, and the period for which the suspension, limitation or other restriction is imposed. A final notice about a prohibition under regulation 78 of the 2017 Regulations must— specify the extent of the prohibition; and give details of the date on which the prohibition has effect, and if relevant the period for which it has effect. subsections (6), (7) and (10) were omitted. Section 392 of FSMA has effect as if for paragraphs (a) and (b) there were substituted— a warning notice given under regulation 81(2) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“the 2017 Regulations”); a decision notice given under regulation 81(6) of the 2017 Regulations.

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