Securities Markets Order, 2013 · s 15

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15.
!1) If a step which a controller of a regulated person proposes to take would result in his -
(a)
ceasing to have control of a relevant kind over the regulated person; or
(b)
reducing a relevant kind of control over that person, he must notify the Authority of his proposal.
(2)
A controller of a regulated person who, without himself taking any such step, ceases to have that control or reduces that control, must notify the Authority before the end of the period of 14 days beginning with the day on which he first becomes aware that -
(a} he has ceased to have the control in question; or
(b)
he has reduced that control.
(3)
A person who is under the duty to notify the Authority imposed by subsection ( 1) must also give a notice to the Authority
(a) on ceasing to have the control in question; or
(b) on reducing that control.
14)
A notice under this section must
(a} be given to the Authority in writing; and
(b) include details of the extent of the control (if any) which the person concerned will retain or still retains over the regulated person concerned.
Offences.

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s 15

!1) If a step which a controller of a regulated person proposes to take would result in his -

(a)

ceasing to have control of a relevant kind over the regulated person; or

(b)

reducing a relevant kind of control over that person, he must notify the Authority of his proposal.

(2)

A controller of a regulated person who, without himself taking any such step, ceases to have that control or reduces that control, must notify the Authority before the end of the period of 14 days beginning with the day on which he first becomes aware that -

(a} he has ceased to have the control in question; or

(b)

he has reduced that control.

(3)

A person who is under the duty to notify the Authority imposed by subsection ( 1) must also give a notice to the Authority

(a)

on ceasing to have the control in question; or

(b)

on reducing that control.

14)

A notice under this section must

(a} be given to the Authority in writing; and

(b)

include details of the extent of the control (if any) which the person concerned will retain or still retains over the regulated person concerned.

Offences.