DEC 1.1 Application and Purpose

This manual gives guidance on the FSA's decision making and other procedures for giving statutory notices listed in DEC 2 Annex 1 G and DEC 3 Annex 1 G. This manual also gives guidance on the FSA's procedure for using its powers under Part XXIV of the Act (Insolvency), Part XXV of the Act (Injunctions and restitution), Part XXVII of the Act (Criminal Offences) and the Unfair Terms Regulations. It also gives guidance on the FSA's procedures for using certain similar powers with respect to insolvency and criminal offences under the Building Societies Act 1986, the Friendly Societies Acts 1974 and 1992, the Credit Unions Act 1979 and the Industrial and Provident Societies Act 1965. It is relevant to firms, approved persons, applicants for Part IV permission, persons for whom an application for approval under section 59 of the Act has been made, and other persons, whether or not they are regulated by the FSA. The UKLA's procedure for giving statutory notices under Part VI of the Act (Official listing) is set out in the listing rules and related guidance.21

Section 395 of the Act (The FSA's procedures) requires the FSA to publish a statement of its procedure for the giving of statutory notices. The purpose of the Decision making manual (DEC) is to fulfil this obligation.1

DEC 4.6.1 G and DEC 4.6.2 G1 set out the FSA's policy on the procedure to be followed:

1. (1)

   if the FSA decides to use its:

   1. (a)

      powers to apply to the civil courts for insolvency orders, injunctions, restitution orders and collective investment scheme related orders; or

   2. (b)

      powers to prosecute criminal offences; and

2. (2)

   if the FSA decides to discontinue any proceedings begun by the use of these powers.

1DEC 4.6.2A G and DEC 4.6.2B G set out the FSA's policy on the procedure to be followed:

1. (1)

   if the FSA decides to use its powers to prosecute criminal offences under the Building Societies Act 1986, the Friendly Societies Acts 1974 and 1992, the Credit Unions Act 1979 and the Industrial and Provident Societies Act 1965, in each case as amended; and

2. (2)

   if the FSA decides to discontinue any proceedings begun by the use of these powers.