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.