Section 70 Power to object to institution’s names.C1

Where an institution applies for authorisation under this Act it shall give notice to the F1Authority of any name it is using or proposes to use for the purposes of or in connection with any business carried on by it and the Authority may give the institution notice in writing—

Where an authorised institution proposes to change any name it uses for the purposes of or in connection with any business carried on by it or, in the case of such an institution as is mentioned in subsection (1)(b) above, any such name as is there mentioned, it shall give notice to the Authority of the proposed name and the Authority may within the period of two months beginning with the day on which it receives the notification give notice to the institution in writing that it objects to the proposed name.

The Authority shall not give notice objecting to a name under subsection (1) or (2) above unless it considers that the name is misleading to the public or otherwise undesirable and, in the case of the use of a name by an authorised institution to which section 67 above applies—

Where as a result of a material change in circumstances since the time when notice was given to the Authority under subsection (1) or (2) above or as a result of further information becoming available to the Authority since that time, it appears to the Authority that a name to which it might have objected under that subsection gives so misleading an indication of the nature of the institution’s activities as to be likely to cause harm to the public, the Authority may give notice in writing to the institution objecting to the name.

Any notice to be given by an institution under this section shall be given in such manner and form as the Authority may specify and shall be accompanied by such information or documents as the Authority may reasonably require.