181. Suspension or removal of Financial Instruments from trading: procedure

Past version: effective from 20/10/2015 - 19/10/2015
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(1) A requirement imposed under section 180 (a "Section 180 Requirement") takes effect—
(a) immediately, if the notice given under subsection (2) states that this is the case;
(b) in any other case, on such date as may be specified in the notice.
(2) If the Regulator proposes to impose a Section 180 Requirement on an Institution, or a class of Institutions, or imposes such a requirement with immediate effect, it must give notice to —
(a) the Institution or, as the case may be, each Institution in the class; and
(b) the Issuer of the Financial Instrument in question (if any).
(3) A notice given under subsection (2) must —
(a) give details of the Section 180 Requirement;
(b) state the Regulator's reasons for imposing the requirement and choosing the date on which it took effect or takes effect;
(c) inform the recipient that he may make representations to the Regulator within such period as may be specified by the notice (whether or not he has referred the matter to the Regulatory Committee);
(d) inform him of the date on which the requirement took effect or takes effect; and
(e) inform him of his right to refer the matter to the Regulatory Committee.