- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Legal Services (Scotland) Act 2010
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- Deddfau Senedd yr Alban
- 2010 asp 16
- SCHEDULE 8
- Paragraph 4
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Rhagor o Adnoddau
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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
Exemption from notification requirements
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adran has no associated
Nodiadau Esboniadol
4(1)An approved regulator may in relation to any exemptible investor in a licensed provider waive the requirements to give it information (or notification) under paragraphs 1 and 3.
(2)Licensing rules must explain—
(a)any circumstances in which the approved regulator proposes to rely on sub-paragraph (1),
(b)any threshold below the percentage specified in sub-paragraph (3) by reference to which it proposes to rely on sub-paragraph (1),
(c)where it proposes to rely on sub-paragraph (1), its reasons.
(3)In sub-paragraph (1), an “exemptible investor” is (as the case may be)—
(a)an investor who has less than a 10% stake in the total ownership or control of the licensed provider, or
(b)a person whose intended acquisition of an interest in the licensed provider is of less than a 10% stake in the total ownership or control of the licensed provider.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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