[(1) Where the [FCA] receives a section 301A notice, it must—
(a) determine whether to approve the acquisition to which it relates; or
(b) propose to object to the acquisition.
(2) In making its determination the [FCA] must—
(a) consider the suitability of the section 301A notice-giver and the financial soundness of the acquisition in order to ensure the sound and prudent management of the recognised investment exchange in question; and
(b) have regard to the likely influence that the section 301A notice-giver will have on the recognised investment exchange.
(3) The [FCA] may only object to an acquisition if it is not satisfied that the approval requirement is met.
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