Financial Services and Markets Act 2000

X1 183 Duty of Authority in relation to notice of control. U.K.

(1) The Authority must, before the end of the period of three months beginning with the date on which it receives a notice of control (“the period for consideration”), determine whether—

(a) to approve of the person concerned having the control to which the notice relates; or

(b) to serve a warning notice under subsection (3) or section 185(3).

(2) Before doing so, the Authority must comply with such requirements as to consultation with competent authorities outside the United Kingdom as may be prescribed.

(3) If the Authority proposes to give the person concerned a notice of objection under section 186(1), it must give him a warning notice.

Editorial Information

X1 The substitution of ss. 178-191G for ss. 178-191 on 21.3.2009 which involves the insertion of several new headings in Pt. XII gives rise to a change in the structure of this legislation on SLD which breaks the continuity of historical versions of the existing provisions which are now brought under those new headings.

Modifications etc. (not altering text)

C1 S. 183 modified (1.12.2001) by S.I. 2001/2637, arts. 1, 4(2); S.I. 2001/3538, art. 2(1)

S. 183 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 50(2), 51(2) (with art. 23(2))

C2 S. 183(3) excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 110(4), 115(3) (With art. 23(2))

Commencement Information

I1 S. 183 wholly in force at 1.12.2001; s. 183 not in force at Royal Assent see s. 431(2); s. 183(2) in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b), Sch. Pt. 2; s. 183 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)