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Part XIIU.K. Control Over Authorised Persons

Modifications etc. (not altering text)

C1Pt. XII (ss. 178-192) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a) (with art. 23(2))

C3Pt. XII excluded (26.7.2013 for specified purposes, 2.9.2013 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(5), 59(7)

[F1Assessment procedureU.K.

Textual Amendments

F1Ss. 178-191G and cross-headings substituted (21.3.2009) for ss. 178-191 and cross-headings by The Financial Services and Markets Act 2000 (Controllers) Regulations 2009 (S.I. 2009/534), reg. 3, Sch. 1 (with reg. 8)

X1191Duration of approvalU.K.

(1) Approval of an acquisition (whether granted unconditionally or subject to conditions) is effective for such period as the [F2appropriate regulator] may specify in writing.

(2)Where the [F2appropriate regulator] has specified a period under subsection (1), it may extend the period.

(3)Where the [F2appropriate regulator] has not specified a period, the approval is effective for one year beginning with the date—

(a)of the notice given under section 189(4)(a) or (b)(i);

(b)on which the [F2appropriate regulator] is treated as having given approval under section 189(6); or

(c)of a decision on a reference to the Tribunal which results in the person receiving approval.]

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.

Textual Amendments

F2Words in Pt. XII substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.