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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 24 January 2013 - onwards
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301K. Orders for sale of shares

(1) The court may, on the application of the FCA, 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 recognised investment exchange 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 301G or section 301I.

(3) Where the court orders the sale of shares or disposition of voting power it may -

(a) if a restriction notice has been given in relation to the shares or voting power, order that the restrictions cease to apply; and

(b) make any further order.

(4) Where the court makes an order under this section, it must take into account the level of holding that the person would have been entitled to acquire, or to continue to hold, without contravening the final notice.

(5) If shares are sold or voting power dispo

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