(1) The Bank may give notice in writing (a "restriction notice") to a person ("P") in the following circumstances.
(2) The circumstances are that -
(a) P has taken a decision in relation to which P is required to give the Bank an Article 31 notice; and
(b) P has made the proposed acquisition -
(i) without giving the Article 31 notice,
(ii) before the expiry date of the assessment period (unless the Bank has approved the acquisition), or
(iii) in contravention of the Bank's decision under Article 31(5) of the EMIR regulation.
(3) In a restriction notice, the Bank may direct that shares or voting power to which the notice relates are, until further notice, subject to one or more of the following restrictions -
(a) except by court order, an agreement to transfer or a transfer of any such shares or voting power or, in the case of unissued shares, any agreement to transfer or transfer of the right to be issued with them, is void;
(b) no voting power is to be exercisable;
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