Sch 6A para 2
(1) The FCA may exercise its power under paragraph 1 in relation to an authorised person with a Part 4A permission only if the following conditions are met. (2) The first condition is that the FCA has given a notice in writing to the person— (a) stating that it appears to the FCA that the person is carrying on no regulated activity to which the permission relates, (b) inviting the person to respond in a specified manner, and (c) warning of the potential consequences that may arise under this Schedule of a failure to do so. (3) The second condition is that— (a) at least 14 days beginning with the date on which the notice was given have elapsed, and (b) the person has failed to respond in the specified manner. (4) The third condition is that the FCA has given a further notice in writing to the person setting out— (a) in a case where the FCA proposes to vary the permission— (i) the proposed variation, (ii) the date on which the FCA proposes to vary the permission (and, if different, the date on which the variation is to take effect), and (iii) any specified steps the person may take that would (if taken) result in the FCA deciding not to vary the permission as proposed; (b) in a case where the FCA proposes to cancel the permission— (i) the date on which the FCA proposes to cancel the permission (and, if different, the date on which the cancellation is to take effect), and (ii) any specified steps the person may take that would (if taken) result in the FCA deciding not to cancel the permission. (5) The fourth condition is that the date specified in the notice under sub-paragraph (4) is not earlier than the end of the period of 14 days beginning with the date on which the notice is given. (6) Where the FCA decides to publicise a notice given under this paragraph (or any details relating to it), it may do so in such manner as it considers appropriate.