Banking Act 1987 (repealed)
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Change 1
20 Notification and confirmation of directions.
(1) A direction under section 19 above shall be given by notice in writing and may be varied by a further direction; and a direction may be revoked by the Authority by a notice in writing to the institution concerned. (2) A direction under that section, except one varying a previous direction with the agreement of the institution concerned— (a) shall state the reasons for which it is given and give particulars of the institution’s rights under subsection (4) and section 27 below; and (b) without prejudice to section 19(3), (4) and (5) above, shall cease to have effect at the end of the period of twenty-eight days beginning with the day in which it is given unless before the end of that period it is confirmed by a further written notice given by the Authority to the institution concerned. (3) Where a direction requires the removal of a person as director, controller or manager of an institution the Authority shall give that person a copy of the direction (together with a statement of his rights under subsection (4) below) and, if the direction is confirmed, a copy of the notice mentioned in subsection (2)(b) above. (4) An institution to which a direction is given which requires confirmation under subsection (2) above and a person who is given a copy of it under subsection (3) above may, within the period of fourteen days beginning with the day on which the direction is given, make written representations to the Authority; and the Authority shall take any such representations into account in deciding whether to confirm the direction. (5) The Authority may omit from the copies given to a person under subsection (3) above any matter which does not relate to him.
20 Notification and confirmation of directions.
(1) A direction under section 19 above shall be given by notice in writing and may be varied by a further direction; and a direction may be revoked by the Authority by a notice in writing to the institution concerned. (2) A direction under that section, except one varying a previous direction with the agreement of the institution concerned— (a) shall state the reasons for which it is given and give particulars of the institution’s rights under subsection (4) and section 27 below; and (b) without prejudice to section 19(3), (4) and (5) above, shall cease to have effect at the end of the period of twenty-eight days beginning with the day in which it is given unless before the end of that period it is confirmed by a further written notice given by the Authority to the institution concerned. (3) Where a direction requires the removal of a person as director, controller or manager of an institution the Authority shall give that person a copy of the direction (together with a statement of his rights under subsection (4) below) and, if the direction is confirmed, a copy of the notice mentioned in subsection (2)(b) above. (4) An institution to which a direction is given which requires confirmation under subsection (2) above and a person who is given a copy of it under subsection (3) above may, within the period of fourteen days beginning with the day on which the direction is given, make written representations to the Authority; and the Authority shall take any such representations into account in deciding whether to confirm the direction. (5) The Authority may omit from the copies given to a person under subsection (3) above any matter which does not relate to him.
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