Securities Markets Order, 2013 · s 218

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s 218Refusal of proposed changes to collective investment scheme

(1)

If the Authority proposes to refuse approval of a proposal to replace the operator or the custodian of a licensed collective investment scheme, it must give a warning notice to the person to whom notice of the proposal was given, within one month beginning with the date on which notice of the proposal was given.

(2)

If, having given a warning notice to a person, the Authority decides to refuse approval, it must give the collective investment scheme a decision notice.

(3)

The Panel has jurisdiction to hear and determine any appeal in relation to a decision made under this section.