1A

But where the section 178 notice relates to an acquisition or increase of control over a credit institution, investment firm or banking group company, the Bank of England, acting in the exercise of its functions under sections 6A to 6C of the Banking Act 2009 or under the special resolution regime under Part 1 of that Act, may direct the appropriate regulator to act under this Part in a timely manner, and to shorten the assessment period so far as reasonably practicable.

1B

In subsection (1A)—

• “bank” has the meaning given in section 2 of the Banking Act 2009;

• “banking group company” has the meaning given in section 81D168 of that Act.