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5.—(1) Subject to sub-paragraph (2) below, the requirements of this paragraph are—
(a)that the firm has given a notice to the Board or, in the case of a listed firm, to the Bank, and to the relevant supervisory authority in its home State, stating the details of the proposed change;
(b)that the Board or, as the case may be, the Bank has received from that authority a notice stating those details; and
(c)that either the Board or, as the case may be, the Bank has informed the firm that it may make the change, or the period of one month beginning with the day on which it gave the Board or, as the case may be, the Bank the notice mentioned in paragraph (a) above has elapsed.
(2) In the case of a change occasioned by circumstances beyond the firm’s control, the requirements of this paragraph are that the firm has, as soon as practicable (whether before or after the change), given a notice to the Board or, as the case may be to the Bank, and to the relevant supervisory authority in its home State, stating the details of the change.
(3) The Board or, as the case may be, the Bank shall as soon as practicable send a copy of any notice received by it in accordance with this paragraph, and a note of the date of its receipt, to every other authority which it knows is a connected UK authority.
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