OpenLegislation

Regulation 5

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This paragraph applies where—

(a)

a person (“the acquirer”) proposes to acquire or has acquired control, an additional kind of control or an increase in a relevant kind of control over a UK authorised person in circumstances falling within section 178(1) or (2) of the Act;

(b)

that UK authorised person is an investment firm;

(c)

the acquirer is either—

(i)

an EEA investment firm; or

(ii)

the parent undertaking of an EEA investment firm; and

(d)

as a result of the acquisition or proposed acquisition, the acquirer is or would become a parent undertaking of the UK authorised person.

(2)

This paragraph applies where—

(a)

a person (“the acquirer”) proposes to acquire or has acquired control, an additional kind of control or an increase in a relevant kind of control over a UK authorised person in circumstances falling within section 178(1) or (2) of the Act;

(b)

that UK authorised person has permission to accept deposits (within the meaning of the Regulated Activities Order);

(c)

the acquirer is either—

(i)

an EEA credit institution; or

(ii)

the parent undertaking of an EEA credit institution; and

(d)

as a result of the acquisition or proposed acquisition, the acquirer is or would become a parent undertaking of the UK authorised person.