# The Central Securities Depositories Regulations 2014, Regulation 5G: Powers of Bank in relation to proposed acquisition


(1) The Bank may before the end of a period of 14 working days starting with the day on which it receives an Article 27 notice, by notice in writing, require the person who gave the Article 27 notice—
(a) to provide specified information or information of a specified description; or
(b) to provide specified documents or documents of a specified description.
(2) Subsection (1) only applies to information or documents which the Bank reasonably requires in order to decide whether there are objective and demonstrable grounds for believing that a proposed acquisition would pose a threat to the sound and prudent management of the recognised CSD or to the ability of the recognised CSD to comply with the CSD regulation.
(3) The information or documents must be provided or produced—
(a) before the end of such period as may be specified; and
(b) at such place as may be specified.
(4) The Bank may require any information provided under this regulation to be provided in such a form as it may reasonably require.
(5) The Bank may require—
(a) any information provided, whether in a document or otherwise, to be verified in such a manner, or
(b) any document produced to be authenticated in such a manner,
as it may reasonably require.
(6) In this regulation, “specified” means specified in the notice.
(7) For the purposes of Article 27(8) of the CSD regulation, the information referred to in Article 27(7) of that regulation is not received until the Bank receives all the information and documents required under this regulation, and where the Bank has imposed a requirement under paragraph (4) or (5), that requirement has been complied with.

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Source: https://www.legislation.gov.uk/uksi/2014/2879/regulation/5G (the official version)
Page: https://openlegislation.uk/central-securities-depositories-regulations-2014/regulation-5G
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.