Rechtsbibliothek und Fallanalyse · Österreich · Belgien · Europäische Union
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S.L. 345.30 · Financial Markets Act (Sponsors) (S.L. 345.30)

S.L. 345.30 Art. 7Variation of registration conditions.

In KraftAmtlicher Text

(1) Where, the competent authority has subjected a registration to conditions in accordance with article 12C of the Act, and it intends to vary any such condition or to impose a new condition thereon, it shall give the sponsor a notice in writing of this intention, specifying the reasons for such decision.

(2) A notice given under sub-regulation (1) shall state that, the sponsor may, within such reasonable period of time after receipt of the notice therein, being not less than forty-eight (48) hours and not more than thirty (30) days, make written representations to the competent authority stating the reasons on the basis of which such action should not be taken.

(3) Following the representations in writing made under sub-regulation (2), the competent authority shall consider any representation so made before arriving at a final decision. The competent authority shall, as soon as practicable, notify its final decision in writing to the sponsor.