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Financial Services and Markets Act 2000

Financial Services and Markets Act 2000

2000 CHAPTER 8

Commentary on Sections

Part Xii: Control Over Authorised Persons

Section 180: Increasing control

358.This section sets out the circumstances in which an increase in a person’s control causes them to be subject to the obligation to notify the Authority under section 178(1)(c).  These are that a person’s shareholding or voting power must cross one of the thresholds set out in subsection (2), or they must become a parent of the UK authorised person.  These thresholds are determined largely by the single market directives.

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