393 Third party rights
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

393  Third party rights

(1)     If any of the reasons contained in a warning notice to which this section applies relates to a matter which—

(a)     identifies a person (“the third party”) other than the person to whom the notice is given, and

(b)     in the opinion of the [regulator giving the notice], is prejudicial to the third party,

a copy of the notice must be given to the third party.

(2)     Subsection (1) does not require a copy to be given to the third party if the [regulator giving the notice]—

(a)     has given him a separate warning notice in relation to the same matter; or

(b)     gives him such a notice at the same time as it gives the warning notice which identifies him.

(3)     The notice copied to a third party under subsection (1) must specify a reasonable period (which may not be less than [14

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Sentencing fraud offences committed by individuals

Sentencing fraud offences committed by individualsThe Sentencing Council (SC) has produced sentencing guidelines for fraud offences under the Fraud Act 2006 (fraud by false representation, fraud by failing to disclose information and fraud by abuse of position), false accounting under section 17 of

LEXISNEXIS

Collective investment schemes—essentials

Collective investment schemes—essentialsThis Practice Note examines the definition of a collective investment scheme (CIS) and available exemptions, and the treatment of regulated and unregulated CIS.Definition of a collective investment schemeThe definition of a CIS is contained in section 235 of

LEXISNEXIS

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt claims against the company (and the rest of the group).Many highly levered deals have thin equity cushions and

LEXISNEXIS

Tort—the different types of tort

Tort—the different types of tortThis Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers'