Part XII Control Over Authorised Persons
F1Acquiring control and other changes of holding
X1182Increasing control
(1)
For the purposes of this Part, a person (“A”) increases control over a UK authorised person (“B”) whenever—
(a)
the percentage of shares which A holds in B or in a parent undertaking of B (“P”) increases by any of the steps mentioned in subsection (2);
(b)
the percentage of voting power A holds in B or P increases by any of the steps mentioned in subsection (2); or
(c)
A becomes a parent undertaking of B.
(2)
The steps are—
(a)
from less than 20% to 20% or more;
(b)
from less than 30% to 30% or more;
(c)
from less than 50% to 50% or more.