If the FCA proposes to make an order under section 279 revoking a recognition order, it must give a warning notice to the operator and (if any) the trustee or depositary of the scheme.
If the FCA decides to ... make an order under that section—
it must without delay give a decision notice to the operator and (if any) the trustee or depositary of the scheme; and
the operator or the trustee or depositary may refer the matter to the Tribunal.