SCHEDULES
SCHEDULE 13Ownership of licensed bodies
Part 5Enforcement
Divestiture
Application for divestiture
I143
I31
If the divestiture condition is satisfied in relation to a non-authorised person and a licensed body, the licensing authority may give the person a restriction notice under paragraph 44 and apply to the High Court for an order under paragraph 45.
I32
The licensing authority may not make an application to the High Court for an order under paragraph 45 unless—
a
it has notified the person that it intends to do so if the divestiture condition is satisfied in relation to the person and the body at the end of the relevant period, and
b
the relevant period has expired.
I23
The relevant period is such period (not less than the prescribed period) as may be specified in the notice.