Article 30 Control over authorised persons

(1)

Paragraphs (2), (3) and (4) apply if—

(a)

before the commencement date, the Authority—

(i)

gave a warning notice under—

(aa)

section 189(4)(b)^f1 (assessment: procedure), or

(bb)

section 191A(4) (objection by the Authority), and

(ii)

had not given a decision notice or a notice of discontinuance following that warning notice; and

(b)

the warning notice relates to the acquisition of, or increase in, control over a UK authorised person who is, on the commencement date, a PRA-authorised person.

(2)

The warning notice is to be treated as if it had been given by the PRA.

(3)

Any representations made to the Authority before the commencement date in respect of the warning notice are to be treated as if they had been made to the PRA.

(4)

If the period for making representations in respect of the warning notice had not expired before the commencement date, representations are to be made to the PRA.

(5)

Paragraph (6) applies if—

(a)

before the commencement date, the Authority—

(i)

gave a decision notice under—

(aa)

section 189(7), or

(bb)

section 191A(6), and

(ii)

had not given a final notice on taking the action to which the decision notice related or a notice of discontinuance; and

(b)

the decision notice relates to the acquisition of, or increase in, control over a UK authorised person who is, on the commencement date, a PRA-authorised person.

(6)

The decision notice is to be treated as if it had been given by the PRA.

Annotations

Footnotes

f1: Section 178, 189 and 191A were substituted by S.I. 2009/534 and are amended by the 2012 Act, section 26.