[(1) If the appropriate regulator has given a preliminary notice under section 142M, it must either—
(a) if, having considered any representations made by any of the relevant persons, it still proposes to exercise the group restructuring powers, give each of the relevant persons a warning notice during the warning notice period, or
(b) before the end of the warning notice period, give each of them a written notice stating that it has decided not to exercise the powers and give a copy of that notice to the Treasury.
(2) The “warning notice period” is the period—
(a) beginning 3
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