In forceUpdated to 30 Jun 2025

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Financial Services and Markets Act 2022 · Updated to 30 Jun 2025 · Part 3 · Prohibition Order

9. Variation or revocation of prohibition orders

(1)

The Authority may vary or revoke a prohibition order, by giving written notice to the person against whom the order was made, if the Authority is satisfied that it is appropriate to do so because of a change in any of the circumstances based on which the Authority made the order.

(2)

The Authority may vary or revoke a prohibition order under subsection (1) —

(a)

on the Authority’s own initiative; or

(b)

if the person against whom the order was made lodges with the Authority an application for the Authority to do so, accompanied by such documents as may be required by the Authority.

(3)

An application mentioned in subsection (2)(b) must be accompanied by the prescribed fee, if any.

(4)

The Authority must not vary a prohibition order made against a person under subsection (2)(a) without giving the person an opportunity to be heard.

(5)

A person who is aggrieved by the decision of the Authority to vary a prohibition order made against the person under subsection (2)(a) may, within 30 days after the decision, appeal in writing to the Minister.

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Part 4