Article 11 Objection to existing controller: preliminary notice served before commencement
Where—
before commencement, the Regulator had served a preliminary notice on an existing controller (within the meaning of the provision under which the preliminary notice was served);
no notice of objection was served in respect of that preliminary notice; and
the person on whom the notice was served is, after commencement, treated as a controller of a UK authorised person for the purposes of section 187(3),
that preliminary notice has effect after commencement as a warning notice served under section 188(1) in respect of the exercise of the Authority’s power under section 187(3).
A notice having effect under paragraph (1) as a warning notice has effect—
as if it gave notice of the Authority’s intention to serve a notice of objection under section 187(3);
as if it stated that section 394 does not apply;
as if the period specified in the notice for making representations to the Authority was one month beginning with the date of service by the Regulator of the notice;
as if any reference to a right to make oral representations were omitted (without prejudice to any such representations made before commencement).
Where a notice has effect under paragraph (1)—
the Authority must comply with such requirements as are prescribed under section 188(2) as appear to it to be necessary, having regard to any consultation with competent authorities which the Regulator undertook before commecement;
the Authority must decide whether to give a decision notice under section 187(3);
the Authority must have regard to any representations made before commencement in relation to the preliminary notice.
For the purposes of this article, a preliminary notice is a notice served under—
section 24(2) of the Banking Act;
paragraph 4(2) of Schedule 2D;
paragraph 6(2) of Schedule 13A.