The Bank may oppose a proposed acquisition only if -

(a) there are reasonable grounds for doing so on the basis of the criteria in paragraph (1) or (2) of Regulation 41, or

(b) the information provided by the proposed acquirer in its notification under Regulation 38 or in accordance with an order made under Regulation 38A(1)(a), as the case may be, is incomplete, or the proposed acquirer has not provided information in response to a request under paragraph (5) or (8) of Regulation 40.