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SCHEDULES

SCHEDULE 2U.K. Restrictions on the Holding of Licences

Part IIIU.K. Restrictions to Prevent Accumulations of Interests in Licensed Services

Power to impose restrictions on participation by persons other than licence holdersU.K.

10(1)Where, by virtue of any provision of this Part of this Schedule, any restriction applies in relation to participation in any body or bodies corporate of a particular description, the Secretary of State may by order provide for further restrictions to apply in relation to participation in any such body or bodies corporate, being restrictions which—

(a)are imposed on persons to whom the first-mentioned restriction does not apply, and

(b)are framed by reference to the number of bodies corporate in which such persons, or persons connected with them, are participants.

(2)For the purposes of this paragraph the following persons shall be treated as connected with a particular person, namely—

(a)a person who controls that person;

(b)an associate of that person or of a person falling within paragraph (a); and

(c)a body which is controlled by that person or by an associate of that person.