184. Decisions on applications for revocation by Institutions

(1) This section applies where, having considered any representations made in response to a written notice under section 183(5), the Regulator has decided whether to grant an application for revocation made under section 183.
(2) The Regulator must give written notice in accordance with subsection (3) if —
(a) in the case of a requirement imposed on an Institution, the Regulator decides to revoke the requirement; or
(b) in the case of a requirement imposed on a class, the Regulator makes a decision which has the effect that the requirement will no longer apply to the applicant (whether or not it will continue to apply to other members of the class).
(3) The written notice must be given to —
(a) the applicant; and
(b) the Issuer of the Financial Instrument in question (if any).
(4) The Regulator must give a decision notice in accordance with subsection (5) if —
(a) in the case of a requirement imposed on an Institution, the Regulator decides not to revoke the requirement; or
(b) in the case of a requirement imposed on a class, the Regulator makes a decision which has the effect that the requirement will continue to apply to the applicant (whether or not it will continue to apply to other members of the class).
(5) The decision notice must be given to —
(a) the applicant; and
(b) the Issuer of the Financial Instrument in question (if any).