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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 16 December 2016 - onwards
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191B. Restriction notices

(1) The appropriate regulator may give notice in writing (a ''restriction notice'') to a person in the following circumstances.

(2) The circumstances are that -

(a) the person has control over a UK authorised person by virtue of holding shares or voting power; and

(b) in relation to the shares or voting power, the appropriate regulator has given the person a warning notice or a decision notice under section 189 or 191A or a final notice which confirms a decision notice given under section 189 or 191A.

(2A) Where the appropriate regulator is the PRA, it must consult the FCA before giving a restriction notice under this section.

(2B) Where the appropriate regulator is the FCA, it must consult the PRA before giving a restriction notice under this section if -

(a) the UK authorised person has as a member of its immediate group a PRA-authorised person, or

(b) the person to whom the restriction notice is to be given is a PRA-authorised person.

(3) In a restriction notice, the appropriate reg

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