Decisions: written notices4
1
Paragraph (2) applies where the PRA determines an application under subsection (2) of section 138BA of FSMA 2000, or gives a permission under that subsection with the consent of the person concerned.
2
The PRA must give the applicant or the person concerned a written notice stating—
a
its decision,
b
the conditions (if any) to which the permission is subject,
c
where—
i
the PRA refuses an application under section 138BA(2), or
ii
the PRA gives a permission under section 138BA(2) subject to conditions under section 138BA(4)(a), unless the person concerned consents to those conditions,
the reasons on which the decision is based, and
d
if the permission is given, the date on which the permission takes effect.
3
Where the PRA revokes or varies a permission under section 138BA(4)(b), it must give the person concerned a written notice stating—
a
that the permission is revoked or varied,
b
unless the person concerned consents to the revocation or variation (including any conditions to which the permission is subject), the reasons on which the decision is based,
c
if the permission is varied, the conditions (if any) to which the permission is subject, and
d
the date on which the revocation or variation takes effect.