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Section 309S: Statement of policy on approval

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

Part XVIII: Recognised investment exchanges, clearing houses , CSDs and other parties — CHAPTER 2A: Performance of functions of recognised bodies

The appropriate regulator must prepare and issue a statement of its policy with respect to—

the giving of approval under section 309G subject to conditions or for a limited period only, and
the variation under section 309Q or 309R of an approval given under section 309G.

The appropriate regulator—

may alter or replace a statement issued under this section, and
if it does so, must issue the altered or replacement statement.

Before the appropriate regulator issues a statement of policy under this section, it must publish a draft of the proposed statement in the way appearing to it to be best calculated to bring it to the attention of the public.

The draft statement must be accompanied by a notice stating that representations about the proposal may be made to the appropriate regulator within a period specified in the notice.

Before issuing the proposed statement, the appropriate regulator must have regard to any representations made to it in accordance with subsection (4).

If the appropriate regulator issues the proposed statement it must publish the following in the way appearing to it to be best calculated to bring them to the attention of the public—

the statement,
an account, in general terms, of the representations made to it in accordance with subsection (4) and its response to them, and
if the statement issued differs from the draft published under subsection (3) in a way which the appropriate regulator considers to be significant, details of the difference.

The appropriate regulator may charge a reasonable fee for providing a person with—

a copy of a draft statement published under subsection (3), or
a copy of a statement published under subsection (6)(a).

The appropriate regulator must, without delay, give the Treasury a copy of each statement it publishes under subsection (6)(a).

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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.