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.

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.

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”.

 A section 178 notice must be in such form, include such information and be accompanied by such documents as the F2appropriate regulator may reasonably require.

F4Each regulator must publish a list of its requirements as to the form, information and accompanying documents for a section 178 notice.

The F2appropriate regulator may impose different requirements for different cases and may vary or waive requirements in particular cases.

 The F2appropriate regulator must acknowledge receipt of a completed section 178 notice in writing before the end of the second working day following receipt.

If the F2appropriate regulator receives an incomplete section 178 notice it must inform the section 178 notice-giver as soon as reasonably practicable.