405.Either on its own initiative or at the request of the authorised person who is subject to a requirement under this Part, the Authority may rescind or vary such a requirement.  The procedure under section 197 applies to a variation on the Authority’s own initiative.  The warning notice and decision notice procedure applies where the Authority proposes to refuse to rescind or vary a requirement on request.  Agreement to a request for rescission or variation can be granted by written notice as with the grant of other forms of application under the Act.
Commentary on Sections Part Xiii: Incoming Firms: Intervention by Authority Section 200: Rescission and variation of requirements