Prospective

Investigations and enforcementU.K.

15Variation or withdrawal of noticesU.K.

(1)The Security Industry Authority may vary or withdraw a compliance notice or a restriction notice by giving notice of the variation or withdrawal to the person to whom the original notice was given.

(2)A compliance notice may not be varied so as to make it more onerous.

(3)A restriction notice may not be varied so as to make it more onerous, except by varying it to extend the period for which it has effect.

(4)A restriction notice may be varied to extend the period for which it has effect only if—

(a)the period for which it would have effect but for the variation has not expired, and

(b)the Security Industry Authority has reasonable grounds to believe that its reasons for giving the original notice will continue to apply during the extended period.

(5)A restriction notice may not be varied to extend the period for which it has effect by more than three months at a time.

(6)Before varying a restriction notice to extend the period for which it has effect, the Security Industry Authority must give the person to whom the original notice was given an opportunity to make representations about the proposed variation.