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Part XVIIIU.K. Recognised Investment Exchanges and Clearing Houses

Modifications etc. (not altering text)

C1Pt. 18 applied in part (with modifications) (12.12.2011) by (The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2

[F1CHAPTER 1AU.K.CONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Textual Amendments

Assessment procedureU.K.

301GAssessment: ProcedureU.K.

(1) The [F2FCA] must act under section 301F within a period three months from the date the [F2FCA] receives the completed section 301A notice (“the assessment period”).

(2)The [F3FCA] must inform the section 301A notice-giver in writing of—

(a)the duration of the assessment period; and

(b)its expiry date.

(3)The [F3FCA] must, within two working days of acting under section 301F (and in any event no later than the expiry date of the assessment period)—

(a)notify the section 301A notice-giver that it has determined to approve the acquisition; or

(b)in the case of a proposed objection to an acquisition, give a warning notice.

(4)The [F3FCA] is treated as having approved the acquisition if, at the expiry of the assessment period, it has neither—

(a)given notice under subsection (3); nor

(b)informed the section 301A notice-giver that the notice is incomplete.

(5)If the [F3FCA] decides to object to an acquisition it must give the section 301A notice-giver a decision notice.

(6)Following receipt of a decision notice under this section, the section 301A notice-giver may refer [F4the FCA's] decision to the Tribunal.]

Textual Amendments

F2Word in s. 301G(1) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 27(2) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.

F3Word in s. 301G(2)-(5) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 27(2) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.

F4Words in s. 301G(6) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 27(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.