[(1) This section applies if—
(a) the appropriate regulator receives a section 178 notice in relation to a [qualifying credit institution], investment firm or banking group company,
(b) as a result of a direction under section 189(1A) or the application of section 189(1ZB), the appropriate regulator is required to act under this Part in a timely manner in relation to that notice, and
(c) the appropriate regulator does not complete the assessment required by section 185 before a relevant transfer instrument has been made by the Bank of England which transfers shares issued by, or voting power in, that [qualifying
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