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You are viewing the version of the document as on 2021-08-10.

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  5. Point in time
    2021-08-10

REC 3.1 Application and purpose

Application

REC 3.1.1RRP
  1. (1)

    The notification rules in this chapter, which are made under section 293 of the Act (Notification requirements), apply to all UK recognised bodies.

  2. (2)

    The rules relating to the form and method of notification in REC 3.2 also apply to overseas recognised bodies.

REC 3.1.2GRP

The notification rules for overseas recognised bodies are set out in REC 6. The guidance set out at REC 3.3 in relation to the waiving and modification of notification rules also applies to the notification rules in this chapter and to the notification rules in REC 6.

REC 3.1.3GRP

The notification rules in this chapter are in addition to the requirements on UK RIEs2 to give notice or information to the FCA and if applicable, the Bank of England2 under sub-sections 293(5) and (6)2 of the Act.

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REC 3.1.3AGRP

The notification rules in this chapter which apply to a RAP are without prejudice to notification rules which apply to a UK RIE which operates the RAP. However, a UK RIE which operates a RAP may make a single notification where a notification is required both in its capacity as a UK RIE and a RAP.4

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Purpose

REC 3.1.4GRP

The notification rules in this chapter are made by the FCA2 in order to ensure that it is provided with notice of events and information which it reasonably requires for the exercise of its functions under the Act.

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