FEES App 1 Annex 3 Emergencies

1

R

The FSA recognises that there may be occasions when, because of a particular emergency, a registered society may be unable to comply with a particular rule. The purpose of this annex is to provide appropriate relief from the consequences of contravention of a rule in those circumstances.

(1)

If any emergency arises which:

(a)

could not have been avoided by the registered society taking all reasonable steps;

(b)

makes it impracticable for a registered society to comply with a particular rule; and

(c)

is outside the control of the registered society, its members and its employees;

the registered society will not be in contravention of that rule to the extent that, in consequence of the emergency, compliance with that rule is impracticable.

(2)

Paragraph (1) applies only for so long as:

(a)

the consequences of the emergency continue; and

(b)

the registered society can demonstrate that it is taking all practicable steps to deal with those consequences, to comply with the rule.

(3)

A registered society must notify the FSA as soon as practicable of the emergency and of the steps it is taking or proposes to take to deal with the consequences of the emergency.

(4)

A registered society should continue to keep the FSA informed of the steps it is taking under 1.2.8(a)R. In the context of 1.2.8(a)R, an action is not practicable if it involves a registered society going to unreasonable lengths.