This section applies where the FCA has imposed a requirement on an institution or a class of institutions under section 313A.
The issuer of the financial instrument may apply to the FCA for the revocation of the requirement.
The FCA must decide whether to revoke the requirement.
In the case of a requirement imposed on a class of institutions, the FCA may decide to revoke it in relation to—
the class;
the class apart from one or more specified members of it; or
one or more specified members of the class only.
The FCA must give the issuer a warning notice if—
in the case of a requirement imposed on an institution, the FCA proposes not to revoke the requirement, or
in the case of a requirement imposed on a class, the FCA proposes not to revoke the requirement or to revoke it in relation to—
the class apart from one or more specified members of it, or
one or more specified members of the class only.