[183 Reducing or ceasing to have control]
[183 Reducing or ceasing to have control]

[(1)     For the purposes of this Part, a person (“A”) reduces control over a UK authorised person (“B”) whenever—

(a)     the percentage of shares which A holds in B or in a parent undertaking of B (“P”) decreases by any of the steps mentioned in subsection (2);

(b)     the percentage of voting power which A holds in B or P decreases by any of the steps mentioned in subsection (2); or

(c)     A ceases to be a parent undertaking of B.

(2)     The steps are—

(a)     from 50% or more to less than 50%;

(b)     from 30% or more to less than 30%;

(c)     from 20% or more to less than 20%.