Notice of controlU.K.
X1178 Obligation to notify the Authority.U.K.
(1)If a step which a person proposes to take would result in his acquiring—
(a)control over a UK authorised person,
(b)an additional kind of control over a UK authorised person, or
(c)an increase in a relevant kind of control which he already has over a UK authorised person,
he must notify the Authority of his proposal.
(2)A person who, without himself taking any such step, acquires any such control or additional or increased control must notify the Authority before the end of the period of 14 days beginning with the day on which he first becomes aware that he has acquired it.
(3)A person who is under the duty to notify the Authority imposed by subsection (1) must also give notice to the Authority on acquiring, or increasing, the control in question.
(4)In this Part “UK authorised person” means an authorised person who—
(a)is a body incorporated in, or an unincorporated association formed under the law of, any part of the United Kingdom; and
(b)is not a person authorised as a result of paragraph 1 of Schedule 5.
(5)A notice under subsection (1) or (2) is referred to in this Part as “a notice of control”.
Editorial Information
X1The substitution of ss. 178-191G for ss. 178-191 on 21.3.2009 which involves the insertion of several new headings in Pt. XII gives rise to a change in the structure of this legislation on SLD which breaks the continuity of historical versions of the existing provisions which are now brought under those new headings.
Modifications etc. (not altering text)
C1S. 178 excluded (1.12.2001) by S.I. 2001/2638, arts. 1, 2(1)(b); S.I. 2001/3538, art. 2(1)
S. 178 excluded (1.12.2001) by S.I. 2001/3338, arts. 1, 2(1)(4); S.I. 2001/3538, art. 2(1)
S. 178 extended (1.12.2001) by S.I. 2001/2637, arts. 1, 5(2); S.I. 2001/3538, art. 2(1)
C2S. 178(1) extended (1.12.2001) by S.I. 2001/2637, arts. 1, 3(1)(d); S.I. 2001/3538,. art. 2(1)