s 178 Obligation to notify the appropriate regulator : acquisitions of control
(1) A person who decides to acquire or increase control over a UK authorised person must give the appropriate regulator notice in writing before making the acquisition. (2) For the purposes of calculations relating to this section, the holding of shares or voting power by a person (“A1”) includes any shares or voting power held by another (“A2”) if A1 and A2 are acting in concert. (2ZA) This section does not apply if the only regulated activity for which the UK authorised person has a Part 4A permission is the regulated activity specified in article 63S of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (administering a benchmark). (2A) In this Part, “ the appropriate regulator ” means— (a) where the UK authorised person is a PRA-authorised person, the PRA; (b) in any other case, the FCA. (3) In this Part, a notice given under this section is a “section 178 notice” and a person giving notice is a “section 178 notice-giver”.