If the FCA proposes to give a direction under section 131W, or gives such a direction with immediate effect, it must give written notice to the designated person to whom the direction is given (or to be given).
A direction under section 131W takes effect—
A direction under section 131W may be expressed to take effect immediately (or on a specified date) only if the FCA reasonably considers that it is necessary for the direction to take effect immediately (or on that date).
The notice under subsection (1) must—
The FCA may extend the period allowed under the notice for making representations.
The FCA must give the designated person written notice if, having considered any representations made by the person, it decides—
The FCA must give the designated person written notice if, having considered any representations made by the person, it decides—
A notice given under subsection (6) must inform the notified person of the person's right to refer the matter to the Tribunal.
A notice under subsection (7)(b) must comply with subsection (4).
If a notice informs the designated person of the person's right to refer a matter to the Tribunal, it must give an indication of the procedure on such a reference.
For the purposes of subsection (2)(c), whether a matter is open to review is to be determined in accordance with section 391(8).