DTR 1A.2 Modifying rules and consulting the FCA

The FCA may dispense with, or modify, the transparency rules in such cases and by reference to such circumstances as it considers appropriate (subject to 4the Act).

A dispensation or modification may be either unconditional or subject to specified conditions.

If an issuer, or other person has applied for, or been granted, a dispensation or modification, it must notify the FCA immediately it becomes aware of any matter which is material to the relevance or appropriateness of the dispensation or modification.

The FCA may revoke or modify a dispensation or modification.

An application to the FCA to dispense with or modify, a transparency rule must be in writing.

The application must:

1. (a)

   contain a clear explanation of why the dispensation or modification is requested;

2. (b)

   include details of any special requirements, for example, the date by which the dispensation or modification is required;

3. (c)

   contain all relevant information that should reasonably be brought to the FCA's attention;

4. (d)

   contain any statement or information that is required by the transparency rules to be included for a specific type of dispensation or modification; and

5. (e)

   include copies of all documents relevant to the application.

   [Note: the application may meet this requirement with copies of documents produced, recorded or stored using electronic means].5