C1Part XVIII Recognised Investment Exchanges and Clearing Houses

Annotations:
Modifications etc. (not altering text)

F1CHAPTER 1ACONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Annotations:
Amendments (Textual)

Assessment procedure

301FAssessment: general

1

 Where the Authority receives a section 301A notice, it must—

a

determine whether to approve the acquisition to which it relates; or

b

propose to object to the acquisition.

2

In making its determination the Authority must—

a

consider the suitability of the section 301A notice-giver and the financial soundness of the acquisition in order to ensure the sound and prudent management of the recognised investment exchange in question; and

b

have regard to the likely influence that the section 301A notice-giver will have on the recognised investment exchange.

3

The Authority may only object to an acquisition if it is not satisfied that the approval requirement is met.

4

The approval requirement is that the acquisition in question by the notice-giver does not pose a threat to the sound and prudent management of any financial market operated by the recognised investment exchange.