SCHEDULES
SCHEDULE 13Ownership of licensed bodies
Part 2Approval of restricted interests on application for licence
Objection to notified interest
I120
1
The investor and the applicant may before the end of the prescribed period appeal to the relevant appellate body against the objection.
2
The relevant appellate body may dismiss the appeal, or allow the appeal and—
a
order the licensing authority to approve the investor's holding of the notified interest without conditions, or subject to such conditions as may be specified in the order, or
b
remit the matter to the licensing authority.
3
A party to the appeal may before the end of the prescribed period appeal to the High Court on a point of law arising from the decision of the relevant appellate body, but only with the permission of the High Court.
4
The High Court may make such order as it thinks fit.
5
If the investor's holding of the notified interest is subject to conditions as a result of an order made on an appeal under this paragraph, for the purposes of this Schedule the conditions are to be treated as having been imposed under paragraph 17.