Financial Services and Markets Act 2000

[F1 191D Obligation to notify the [F2 appropriate regulator]: dispositions of control U.K.

(1)  A person who decides to reduce or cease to have control over a UK authorised person must give the [F2 appropriate regulator] notice in writing before making the disposition.

[F3 (1A) The PRA must give the FCA a copy of any notice it receives under this section.

(1B) The FCA must give the PRA a copy of any notice it receives under this section which—

(a) relates to a UK authorised person who has as a member of its immediate group a PRA-authorised person, or

(b) is given by a PRA-authorised person.]

(2) 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.]

Textual Amendments

F1 Ss. 178-191G and cross-headings substituted (21.3.2009) for ss. 178-191 and cross-headings by The Financial Services and Markets Act 2000 (Controllers) Regulations 2009 (S.I. 2009/534), reg. 3, Sch. 1 (with reg. 8)

F2 Words in Pt. 12 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F3 S. 191D(1A)(1B) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(10), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.