The Financial Services and Markets Act 2000 (Transitional Provisions) (Controllers) Order 2001

Notification on becoming aware of acquisition

14.  Where, before commencement—

(a) a person became aware of the fact that he had become a controller for the purposes of regulation 43(2) of the ISD Regulations or section 25(2) of the Banking Act;

(b) he had not notified the Regulator of that fact;

(c) the period of fourteen days referred to in those provisions had not expired;

(d) the fact of which he became aware would, if it had occurred after commencement, have placed the person under a duty to notify the Authority under section 191(10),

section 191(10) applies to him and the period of fourteen days referred to in that subsection is treated as beginning on the day on which he became aware of the fact referred to in paragraph (a).