s 183 Reducing or ceasing to have control
(1) For the purposes of this Part, a person (“A”) reduces control over a UK authorised person (“B”) whenever— (a) the percentage of shares which A holds in B or in a parent undertaking of B (“P”) decreases by any of the steps mentioned in subsection (2); (b) the percentage of voting power which A holds in B or P decreases by any of the steps mentioned in subsection (2); or (c) A ceases to be a parent undertaking of B. (2) The steps are— (a) from 50% or more to less than 50%; (b) from 30% or more to less than 30%; (c) from 20% or more to less than 20%. (3) For the purposes of this Part, a person (“A”) ceases to have control over a UK authorised person (“B”) if A ceases to be in the position of holding— (a) 10% or more of the shares in B or in a parent undertaking of B (“P”); (b) 10% or more of the voting power in B or P; or (c) shares or voting power in B or P as a result of which A is able to exercise significant influence over the management of B.