{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-185",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-185.json",
  "legislation": "ukpga/2000/8",
  "legislation_title": "Financial Services and Markets Act 2000",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
  "path": "section/185",
  "kind": "section",
  "number": "185",
  "heading": "Assessment: general",
  "text": "(1) Where the appropriate regulator receives a section 178 notice, it must—\n(a) determine whether to approve the acquisition to which it relates unconditionally; or\n(b) propose to—\n(i) approve the acquisition subject to conditions (see section 187); or\n(ii) object to the acquisition.\n(2) The appropriate regulator must—\n(a) consider the suitability of the section 178 notice-giver and the financial soundness of the acquisition in order to ensure the sound and prudent management of the UK authorised person;\n(b) have regard to the likely influence that the section 178 notice-giver will have on the UK authorised person; and\n(c) disregard the economic needs of the market.\n(3) The appropriate regulator may only object to an acquisition—\n(a) if there are reasonable grounds for doing so on the basis of the matters set out in section 186; or\n(b) if the information provided by the section 178 notice-giver is incomplete.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 178-191G and cross-headings substituted (21.3.2009) for ss. 178-191 and cross-headings by The Financial Services and Markets Act 2000 (Controllers) Regulations 2009 (S.I. 2009/534), reg. 3, Sch. 1 (with reg. 8)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Pt. 12 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "X",
      "label": "X1",
      "text": "The substitution of ss. 178-191G for ss. 178-191 on 21.3.2009 which involves the insertion of several new headings in Pt. XII gives rise to a change in the structure of this legislation on SLD which breaks the continuity of historical versions of the existing provisions which are now brought under those new headings."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/section/185",
    "retrieved_at": "2026-10-29T09:21:21.899993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}