Financial Services and Markets Act 2000

X1[F1178Obligation to notify the [F2appropriate regulator]: acquisitions of controlU.K.

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(1) A person who decides to acquire or increase control over a UK authorised person must give the [F2appropriate regulator] notice in writing before making the acquisition.

(2)For the purposes of calculations relating to this section, the holding of shares or voting power by a person (“A1”) includes any shares or voting power held by another (“A2”) if A1 and A2 are acting in concert.

[F3(2A)In this Part, “the appropriate regulator” means—

(a)where the UK authorised person is a PRA-authorised person, the PRA;

(b)in any other case, the FCA.]

(3)In this Part, a notice given under this section is a “section 178 notice” and a person giving notice is a “section 178 notice-giver”.]

Editorial Information

X1The substitution of ss. 178-191G for ss. 178-191 on 21.3.2009 which involves the insertion of several new headings in Pt. XII gives rise to a change in the structure of this legislation on SLD which breaks the continuity of historical versions of the existing provisions which are now brought under those new headings.

Textual Amendments

F1Ss. 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)

F2Words in Pt. 12 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.