DEC 2.1 Warning notice and decision notice procedure: Introduction

The Act and certain other enactments requires the FSA, when proposing to exercise its powers in certain circumstances, to use the warning notice and decision notice procedure. 1

The circumstances to which the warning notice and decision notice procedure in DEC apply are set out in DEC 2 Annex 1 G. Three flowcharts are provided in DEC 2 Annex 2 G to DEC 2 Annex 4 G. These illustrate:

1. (1)

   the procedure for giving warning notices and decision notices in the case of applications for Part IV permission, applications for approval under section 59 of the Act (Approval for particular arrangements), applications for variation of permission, and for certain other applications (see DEC 2 Annex 2 G);

2. (2)

   the procedure for giving warning notices and decision notices in non-application cases (see DEC 2 Annex 3 G); and

3. (3)

   the procedure for giving warning notices and decision notices in the case of notifications of a change in control (see DEC 2 Annex 4 G).

DEC 1.2.3 G includes a summary of the purpose of warning notices and decision notices.