(1) The appropriate regulator may object to a person’s control over a UK authorised person in any of the circumstances specified in subsection (2).
(2) The circumstances are that the appropriate regulator reasonably believes that -
(a) the person acquired or increased control without giving notice under section 178(1) in circumstances where notice was required;
(b) the person is in breach of a condition imposed under section 187; or
(c) there are grounds for objecting to control on the basis of the matters in section 186.
(3) The appropriate regulator -
(a) must take into account whether influence exercised by the person is likely to operate to the detriment of the sound and prudent management of the UK authorised person; and
(b) may take into account whether the person has co-operated with any information requests made or requirements imposed by the appropriate regulator.
(4) If the appropriate regulator proposes to object to a person’s control over a UK authorised person, it must
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