Part XVIII Recognised Investment Exchanges and Clearing Houses
F1CHAPTER 1ACONTROL OVER RECOGNISED INVESTMENT EXCHANGE
Enforcement procedures
301IObjections by the F2FCA
(1)
The F2FCA may object to a person's control over a recognised investment exchange in any of the circumstances specified in subsection (2).
(2)
The circumstances are that the F2FCA reasonably believes that—
(a)
the person acquired or increased control without giving notice under section 301A in circumstances where notice was required; and
(b)
there are grounds for objecting to control on the basis of the approval requirement in section 301F(4).
(3)
If the F2FCA proposes to object to a person's control over a recognised investment exchange, it must give that person a warning notice.
(4)
If the F2FCA decides to object to a person's control over a UK authorised person, it must give that person a decision notice.
(5)
A person to whom the F2FCA gives a decision notice under this section may refer the matter to the Tribunal.