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Section 245: Procedure when refusing an application.

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part XVII: Collective Investment Schemes — Chapter III: Authorised Unit Trust Schemes

If the FCA proposes to refuse an application made under section 242 it must give each of the applicants a warning notice.

If the FCA decides to refuse the application—

it must give each of the applicants a decision notice; and
either applicant may refer the matter to the Tribunal.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.