REC 3.1 Application and purpose
Application
- (1)
The notification rules in this chapter, which are made under section 293 of the Act (Notification requirements), apply to all UK recognised bodies.
- (2)
The rules relating to the form and method of notification in REC 3.2 also apply to overseas recognised bodies.
The notification rules for overseas recognised bodies are set out in REC 6. The guidance set out at REC 3.3 in relation to the waiving and modification of notification rules also applies to the notification rules in this chapter and to the notification rules in REC 6.
The notification rules in this chapter are in addition to the requirements on UK recognised bodies to give notice or information to the FSA under sub-sections 293(5), (6) and (7) of the Act.
Purpose
The notification rules in this chapter are made by the FSA in order to ensure that it is provided with notice of events and information which it reasonably requires for the exercise of its functions under the Act.