s 185 Assessment: general
(1) Where the appropriate regulator receives a section 178 notice, it must— (a) determine whether to approve the acquisition to which it relates unconditionally; or (b) propose to— (i) approve the acquisition subject to conditions (see section 187); or (ii) object to the acquisition. (2) The appropriate regulator must— (a) consider the suitability of the section 178 notice-giver and the financial soundness of the acquisition in order to ensure the sound and prudent management of the UK authorised person; (b) have regard to the likely influence that the section 178 notice-giver will have on the UK authorised person; and (c) disregard the economic needs of the market. (3) The appropriate regulator may only object to an acquisition— (a) if there are reasonable grounds for doing so on the basis of the matters set out in section 186; or (b) if the information provided by the section 178 notice-giver is incomplete.