# Financial Services and Markets Act 2000, Section 183: Reducing or ceasing to have control


(1) For the purposes of this Part, a person (“A”) reduces control over a UK authorised person (“B”) whenever—
(a) the percentage of shares which A holds in B or in a parent undertaking of B (“P”) decreases by any of the steps mentioned in subsection (2);
(b) the percentage of voting power which A holds in B or P decreases by any of the steps mentioned in subsection (2); or
(c) A ceases to be a parent undertaking of B.
(2) The steps are—
(a) from 50% or more to less than 50%;
(b) from 30% or more to less than 30%;
(c) from 20% or more to less than 20%.
(3) For the purposes of this Part, a person (“A”) ceases to have control over a UK authorised person (“B”) if A ceases to be in the position of holding—
(a) 10% or more of the shares in B or in a parent undertaking of B (“P”);
(b) 10% or more of the voting power in B or P; or
(c) shares or voting power in B or P as a result of which A is able to exercise significant influence over the management of B.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/183 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-183
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.