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Financial Services and Markets Act 2000

Section 186: Objection to acquisition of control

371.This section gives the Authority the power to object to the acquisition of new or additional control, or to an increase in control.

372.The Authority can object to a person acquiring or increasing their control where it is not satisfied that the approval requirements set out in subsection (2) are met.

373.Subsection (4) confers a duty on the Authority to notify the applicant if it considers that the conditions for approval would be met if the applicant took or refrained from taking a particular step.

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