[55O Imposition of requirements on acquisition of control]
[55O Imposition of requirements on acquisition of control]

[(1)     This section applies if it appears to the appropriate regulator that—

(a)     a person has acquired control over a UK authorised person who has a Part 4A permission, but

(b)     there are no grounds for exercising its own-initiative requirement power.

(2)     If it appears to the appropriate regulator that the likely effect of the acquisition of control on the UK authorised person, or on any of its activities, is uncertain, the appropriate regulator may—

(a)     impose on the UK authorised person a requirement that could be imposed by that regulator under section 55L or 55M (as the case may be) on the giving of permission, or

(b)     vary a requirement imposed by that regulator under that section on the UK authorised person.

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