(1)Where an institution applies for authorisation under this Act it shall give notice to the [F1Authority] of any name it is using or proposes to use for the purposes of or in connection with any business carried on by it and the [F1Authority] may give the institution notice in writing—
(a)that it objects to the notified name; or
(b)in the case of an institution which is or will be obliged to disclose any name in connection with any business carried on by it by virtue of section 4 of the M1Business Names Act 1985 or Article 6 of the M2Business Names (Northern Ireland) Order 1986, that it objects to that name.
(2)Where an authorised institution proposes to change any name it uses for the purposes of or in connection with any business carried on by it or, in the case of such an institution as is mentioned in subsection (1)(b) above, any such name as is there mentioned, it shall give notice to the [F1Authority] of the proposed name and the [F1Authority] may within the period of two months beginning with the day on which it receives the notification give notice to the institution in writing that it objects to the proposed name.
(3)The [F1Authority] shall not give notice objecting to a name under subsection (1) or (2) above unless it considers that the name is misleading to the public or otherwise undesirable and, in the case of the use of a name by an authorised institution to which section 67 above applies—
(a)the whole of the name shall be taken into account in considering whether it is misleading or undesirable; but
(b)no objection may be made to so much of the name as it is entitled to use by virtue of that section.
(4)Where as a result of a material change in circumstances since the time when notice was given to the [F1Authority] under subsection (1) or (2) above or as a result of further information becoming available to the [F1Authority] since that time, it appears to the [F1Authority] that a name to which it might have objected under that subsection gives so misleading an indication of the nature of the institution’s activities as to be likely to cause harm to the public, the [F1Authority] may give notice in writing to the institution objecting to the name.
(5)Any notice to be given by an institution under this section shall be given in such manner and form as the [F1Authority] may specify and shall be accompanied by such information or documents as the [F1Authority] may reasonably require.
Textual Amendments
F1Words in s. 70 substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. I Ch. I para. 15; S.I. 1998/1120, art.2
Modifications etc. (not altering text)
C1S. 70 amended (1.1.1993) by S.I. 1992/3218, reg. 47, Sch. 8 para. 19.
Marginal Citations