Financial Services and Markets Act 2000 (c. 8)

Part XII U.K. Control Over Authorised Persons

Modifications etc. (not altering text)

C1 Pt. 12 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a) (with art. 23(2))

C2 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))

C3 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)

C4 Pt. 12 applied (with modifications) (13.8.2017 for specified purposes, 13.10.2017 in so far as nt already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(b)(iii)(3)(c), Sch. 6 para. 5 (with reg. 3)

C5 Pt. 12 excluded (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 8

C6 Pt. 12 modified (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 83(10)

C7 Pt. 12 applied (with modifications) (11.8.2022) by S.I. 2017/692, Sch. 6B para. 1 (as inserted by The Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations 2022 (S.I. 2022/860), regs. 1(2)(c), 12(4))

[F1 Interpretation U.K.

Textual Amendments

F1 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)

191G Interpretation U.K.

(1)  In this Part—

• “acquisition” means the acquisition of control or of an increase in control over a UK authorised person;

• [F2 “the appropriate regulator” is to be read in accordance with section 178(2A);]

• F3 ...

• [F4 “qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before IP completion day to implement the capital requirements directive.]

• “shares” has the same meaning as in section 422;

• “UK authorised person” means an authorised person who—

  (a)

  is a body incorporated in, or an unincorporated association formed under the law of, any part of the United Kingdom; and

  (b)

  is not a person authorised as a result of paragraph 1 of Schedule 5 [F5 , or a person treated as having a Part 4A permission to carry on a regulated activity by virtue of regulation 71 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019]; and

• “voting power” has the same meaning as in section 422.

(2) For the purposes of this Part, a “working day” is a day other than—

(a) a Saturday or a Sunday; or

(b) a day which is a bank holiday in England and Wales under the M1 Banking and Financial Dealings Act 1971.]

Textual Amendments

F2 Words in s. 191G(1) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(12), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F3 Words in s. 191G(1) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 56(a); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in s. 191G(1) inserted (31.12.2020) by S.I. 2019/632, reg. 56(c) (as inserted by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(3), 9(4) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(d)(i)); 2020 c. 1, Sch. 5 para. 1(1))

F5 Words in s. 191G(1) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 56(b); 2020 c. 1, Sch. 5 para. 1(1)

Marginal Citations

M1 1971 c.80.