Yn ddilys o 01/04/2007
301DObjection to existing controlU.K.
(1)If the Authority is not satisfied that the approval requirement is met, it may give a decision notice under this section to a person if he has failed to comply with a duty to notify imposed by section 301A.
(2)If the failure relates to subsection (1) or (2) of that section, the Authority may (instead of giving a notice under subsection (1)) approve the acquisition of control in question by the person concerned as if he had given it a notice of control.
(3)The Authority may also give a decision notice under this section to a person who is a controller of a recognised investment exchange if the Authority becomes aware of matters as a result of which it is satisfied that the approval requirement is not met with respect to the controller.
(4)If the Authority proposes to give a decision notice under subsection (1) or (3) to a person, it must give him a warning notice before the end of the period of three months beginning—
(a)in the case of a notice to be given under subsection (1), with the date on which it became aware of the failure to comply with the duty in question;
(b)in the case of a notice to be given under subsection (3), with the date on which it became aware of the matters in question.
(5)A person to whom a decision notice is given under this section may refer the matter to the Tribunal.
(6)”Approval requirement” has the same meaning as in section 301C.