A person who decides to acquire or increase control over a UK authorised person must give the Authority 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”.