SCHEDULES
SCHEDULE 13Ownership of licensed bodies
Part 5Enforcement
Records of decisions
Power to notify Board where share limit or voting limit breached
I149
1
This paragraph applies if the relevant licensing rules make the provision mentioned in paragraph 38(1)(a) or (b).
2
The licensing authority may, if it considers it appropriate to do so in all the circumstances of the case, notify the Board where a non-authorised person acquires—
a
a shareholding in a licensed body or parent undertaking of a licensed body which exceeds the share limit, or
b
an entitlement to exercise, or control the exercise of, voting rights in a licensed body or parent undertaking of a licensed body which exceeds the voting limit.
3
If the licensing authority proposes to make a notification under sub-paragraph (2), it must give the person and the licensed body a warning notice.
4
The warning notice must—
a
specify the reasons for the proposed notification, and
b
state that representations may be made to the licensing authority within the prescribed period.
5
The licensing authority must consider any representations made within the prescribed period.
6
If the licensing authority notifies the Board under sub-paragraph (2), it must give the person concerned and the licensed body a copy of the notification and a notice stating the reasons for the notification.
7
If the share limit or voting limit is breached in relation to a parent undertaking of a licensed body, references in sub-paragraphs (3) and (6) to the licensed body include the parent undertaking.
I2C150
1
The person concerned and the licensed body may before the end of the prescribed period appeal to the relevant appellate body against the notification.
2
The relevant appellate body may—
a
dismiss the appeal, or
b
allow the appeal and order the person's name to be removed from the list kept by the Board under paragraph 51.
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 appellant body, but only with the permission of the High Court.
4
The High Court may make such order as it thinks fit.
5
The licensing authority must notify the Board of the outcome of any appeal under this paragraph, and give the person concerned and the licensed body a copy of the notification.
6
If the share limit or voting limit is breached in relation to a parent undertaking of a licensed body, references in sub-paragraphs (1) and (5) to the licensed body include the parent undertaking.