s.13Directions restricting or ceasing business: exemption by licence
13
Section 13Part 4 — Procedures and Licensing in Relation to Directions

Directions restricting or ceasing business: exemption by licence

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A relevant person may apply to the Financial Reporting Authority, in such form as the Financial Reporting Authority may specify, for a licence exempting him from the requirements of the direction.
The applicant shall provide such information and documents as the Financial Reporting Authority may require in determining the application.
A licence granted under this section may be —
general or granted to a description or class of persons or to a particular person;
subject to conditions as the Financial Reporting Authority may specify in the licence; or
of indefinite duration or subject to an expiry date.
The Financial Reporting Authority may at any time vary or revoke a licence issued under this section.
Where the Financial Reporting Authority grants, varies or revokes a licence, it shall —
in the case of a licence granted to a particular person, give notice of the grant, variation or revocation to that particular person; and
in the case of a general licence or a licence granted to a description or class of persons, take such steps as it considers appropriate to publicise the grant, variation or revocation of the licence.

Defined Terms

relevant personlicence

Referenced By