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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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191C. Orders for sale of shares

(1) The court may, on the application of the appropriate regulator, order the sale of shares or the disposition of voting power in the following circumstances.

(2) The circumstances are that -

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

(b) the acquisition or continued holding of the shares or voting power by that person is in contravention of a final notice which confirms a decision notice given under section 189 or section 191A.

(2A) Where the appropriate regulator is the PRA, it must consult the FCA before making an application to the court under this section.

(2B) Where the appropriate regulator is the FCA, it must consult the PRA before making an application to the court 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 holding the shares or voting power is a PRA-authorised person.

(3) Where the court orders the sale of shares or dispos

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