Directive 2002/87/EC of the European Parliament and of the CouncilShow full title

Article 29 U.K. Amendments to Directive 2000/12/EC

Directive 2000/12/EC is amended as follows:

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Article 16(2) shall be replaced by the following:

‘2. If the acquirer of the holdings referred to in paragraph 1 is a credit institution, insurance undertaking or investment firm authorised in another Member State or the parent undertaking of a credit institution, insurance undertaking or investment firm authorised in another Member State or a natural or legal person controlling a credit institution, insurance undertaking or investment firm authorised in another Member State, and if, as a result of that acquisition, the institution in which the acquirer proposes to hold a holding would become a subsidiary or subject to the control of the acquirer, the assessment of the acquisition must be subject to the prior consultation referred to in Article 12.’

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[F1 . . . . .

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Textual Amendments

F1 Deleted by Directive 2006/48/EC of the European Parliament and of the council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance).