12. Objection to existing control

If the Authority is not satisfied that the approval requirements are met, it may a decision notice of objection to a person who has failed to comply with a duty to notify the Authority imposed by section 3.

If the failure relates to section 3(1) or 3(2), the Authority may (instead of giving a notice under subsection ( 1)) approve the acquisition of the control in question by the person concerned as if he had given it a notice of control.

The Authority may also give a decision notice under subsection (1) to a person who is a controller of a regulated person if the Authority becomes aware of matters as a result of which it is satisfied that -

A person to whom a decision notice under subsection (1) is given may refer the matter to the Panel.