Part XII

Control Over Authorised Persons

Acquiring or increasing control: procedure

Duty of Authority in relation to notice of control
183
1
The Authority must, before the end of the period of three months beginning with the date on which it receives a notice of control (“the period for consideration”), determine whether—
a
to approve of the person concerned having the control to which the notice relates; or
b
to serve a warning notice under subsection (3) or section 185(3).
2
Before doing so, the Authority must comply with such requirements as to consultation with competent authorities outside the United Kingdom as may be prescribed.
3
If the Authority proposes to give the person concerned a notice of objection under section 186(1), it must give him a warning notice.