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Financial Services and Markets Act 2000
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- UK Public General Acts
- 2000 c. 8
- Part XII
- Notice of reductions of...
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Changes over time for: Cross Heading: Notice of reductions of control of UK authorised persons
Alternative versions:
- 21/03/2009- Amendment
- 01/04/2013- Amendment
- 26/03/2015
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Point in time view as at 26/03/2015.
Changes to legislation:
Financial Services and Markets Act 2000, Cross Heading: Notice of reductions of control of UK authorised persons is up to date with all changes known to be in force on or before 27 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F1Notice of reductions of control of UK authorised personsU.K.
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)
191DObligation to notify the [F2appropriate regulator]: dispositions of controlU.K.
(1) A person who decides to reduce or cease to have control over a UK authorised person must give the [F2appropriate regulator] notice in writing before making the disposition.
[F3(1A)The PRA must give the FCA a copy of any notice it receives under this section.
(1B)The FCA must give the PRA a copy of any notice it receives under this section which—
(a)relates to a UK authorised person who has as a member of its immediate group a PRA-authorised person, or
(b)is given by a PRA-authorised person.]
(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.
Textual Amendments
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.
F3S. 191D(1A)(1B) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(10), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
191ERequirements for notices under section 191DU.K.
(1) A notice under section 191D must be in such form, include such information and be accompanied by such documents as the [F2appropriate regulator] may reasonably require.
(2)[F4Each regulator] must publish a list of its requirements as to the form, information and accompanying documents for a notice under section 191D.
(3)The [F2appropriate regulator] may impose different requirements for different cases and may vary or waive requirements in particular cases.]
Textual Amendments
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.
F4Words in s. 191E(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(11), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
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