Financial Intermediaries Act 1996
sec.12Urgent standards
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sec.12 Urgent standards
If the registrar decides it is necessary, because of urgent circumstances, for a standard to be made without complying with section 11 , the registrar may make the standard. If the registrar makes a decision under subsection (1) , the registrar must immediately publish a copy of the decision in the gazette, together with a succinct statement of the reasons for making the decision. A standard made because of a decision under subsection (1) has effect for only— 120 days; or a lesser period stated in the standard. s 12 amd 1999 No. 27 s 76 sch 1 pt 2 (sec.12-ssec.1) If the registrar decides it is necessary, because of urgent circumstances, for a standard to be made without complying with section 11 , the registrar may make the standard. (sec.12-ssec.2) If the registrar makes a decision under subsection (1) , the registrar must immediately publish a copy of the decision in the gazette, together with a succinct statement of the reasons for making the decision. (sec.12-ssec.3) A standard made because of a decision under subsection (1) has effect for only— 120 days; or a lesser period stated in the standard.
- (a) 120 days; or
- (b) a lesser period stated in the standard.