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Part XII U.K. Control Over Authorised Persons

Modifications etc. (not altering text)

C1 Pt. 12 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a) (with art. 23(2))

C2 Pt. 12 applied (with modifications) (30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 62, Sch. 3 para. 4 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(d)(e))

Acquiring or increasing control: procedure U.K.

X1 185 Conditions attached to approval. U.K.

(1) The Authority’s approval under section 184 may be given unconditionally or subject to such conditions as the Authority considers appropriate.

(2) In imposing any conditions, the Authority must have regard to its duty under section 41.

(3) If the Authority proposes to impose conditions on a person it must give him a warning notice.

(4) If the Authority decides to impose conditions on a person it must give him a decision notice.

(5) A person who is subject to a condition imposed under this section may apply to the Authority—

(a) for the condition to be varied; or

(b) for the condition to be cancelled.

(6) The Authority may, on its own initiative, cancel a condition imposed under this section.

(7) If the Authority has given its approval to a person subject to a condition, he may refer to the Tribunal—

(a) the imposition of the condition; or

(b) the Authority’s decision to refuse an application made by him under subsection (5).

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)

C3 S. 185(1) extended (1.12.2001) by S.I. 2001/2637, arts. 1, 10(1); S.I. 2001/3538, art. 2(1)

C4 S. 185(3) extended (1.12.2001) by S.I. 2001/2637, arts. 1, 9(1)(3); S.I. 2001/3538, art. 2(1)

S. 185(3) excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2); 110(4), 115(3) (with art. 23)