Regulation 5F Interpretation of Part 5F1

In Part 5—

• “acquisition” means a transfer of ownership rights which gives rise to a change in the identity of the persons exercising control over the operation of a recognised CSD;

• “Article 27 notice” means a notification by a person under Article 27(7) of the CSD regulation of a proposed acquisition;

• “assessment period” means the period of 60 working days referred to in Article 27(8) of the CSD regulation;

• “control” means the relationship between two undertakings as described in section 1162 of, and Schedule 7 to, the Companies Act 2006

• “proposed acquisition” means a decision to transfer ownership rights which gives rise to a change in the identity of the persons exercising control over the operation of a recognised CSD;

• “restriction notice” has the meaning given by regulation 5I;

• “shares” has the meaning given by section 422 of the Act (controller), but section 422A of the Act (disregarded holdings) does not apply;

• “voting power” has the meaning given by section 422 of the Act;

• “working day” means a day other than—

  1. (a)

     Saturday or Sunday,

  2. (b)

     Christmas Day or Good Friday, or

  3. (c)

     a day which is a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom.