The Planning and Transportation Committee of the corporation last week voted to go ahead with proceedings to remove the encampment on the grounds that it constitutes an unreasonable use of the highway.
Ronan McNern, a supporter of the Occupy London Stock Exchange protest, said it would be up to the general assembly of the protesters how they responded to the notice.
He said: "Every time that the occupiers have been challenged, they have remained calm. We have a just cause and there is absolutely no reason why we would be intimidated. We trust in the people."
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