C1C2C3 Part XII Control Over Authorised Persons
Pt. 12 applied (with modifications) (30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 62, Sch. 3 para. 4 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(d)(e))
Pt. 12 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 procedure
Ss. 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)
187AF2Assessment: consultation by PRA with FCA
1
The PRA must consult the FCA before acting under section 185.
2
The FCA may make representations to the PRA in relation to any of the matters set out in sections 185(2) and 186.
3
If the FCA considers that on the basis of the matters set out in section 186(f) there are reasonable grounds to object to the acquisition, the FCA may—
a
direct the PRA to object to the acquisition, or
b
direct the PRA not to approve the acquisition unless it does so subject to conditions specified in the direction (with or without other conditions).
4
Before giving a direction under subsection (3), the FCA must notify the PRA of its proposal to do so.
5
In order to comply with the obligation under subsection (1), the PRA must provide the FCA with—
a
copies of—
i
the section 178 notice, and
ii
any document included with that notice,
b
any further information provided pursuant to section 190, and
c
any other information in the possession of the PRA which—
i
in the opinion of the PRA, is relevant to the application, or
ii
is reasonably requested by the FCA.
6
If the PRA acts under section 185(1)(b), it must indicate to the section 178 notice-giver any representations or directions received from the FCA.
7
Directions given by the FCA under this section are subject to any directions given to the FCA under section 3I or 3J.
Pt. 12 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a) (with art. 23(2))