(1) Where -

(a) before commencement, the Regulator has served a preliminary notice on a person in respect of his failure to comply with an obligation to serve a notice of a kind to which article 3 applies;

(b) no notice of objection has been served in respect of that preliminary notice;

(c) the interest in relation to which the obligation referred to in sub-paragraph (a) arose is an interest which would, if the person had proposed to acquire it after commencement, have given rise to an obligation to notify under section 178(1),

the preliminary notice is to be treated after commencement as a warning notice given by the Authority under section 188(1).

(2) A notice having effect under paragraph (1) as a warning notice has effect -

(a) as if it gave notice of the Authority's intention to serve a notice of objection under section 187(1);

(b) as if it stated that section 394 does not apply;