The Central Securities Depositories Regulations 2014
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Change 1
5H Procedure in relation to proposed acquisition
(1) If the Bank gives a person (“P”) notice of its decision under Article 27(8) of the CSD regulation that it opposes a proposed acquisition, P may refer the Bank’s decision to the Tribunal. (2) The notice under Article 27(8) of the CSD regulation must— (a) give reasons for the decision; (b) inform P that P may make representations to the Bank within such period as may be specified in the notice (whether or not P has referred the matter to the Tribunal); and (c) inform P of P’s right to refer the matter to the Tribunal, and give an indication of the procedure on such a reference. (3) The Bank may extend the period allowed under the notice under Article 27(8) of the CSD regulation for making representations. (4) If, having considered any representations made by P, the Bank decides to rescind the notice under Article 27(8) of the CSD regulation, it must give P written notice. (5) If, having considered any representations made by P, the Bank decides not to rescind the notice under Article 27(8) of the CSD regulation, it must give P written notice which must comply with paragraph (2)(c). (6) Part 9 of the Act (hearings and appeals) applies to references to the Tribunal under this regulation as it applies to references to the Tribunal under the Act.
5H Procedure in relation to proposed acquisition
(1) If the Bank gives a person (“P”) notice of its decision under Article 27(8) of the CSD regulation that it opposes a proposed acquisition, P may refer the Bank’s decision to the Tribunal. (2) The notice under Article 27(8) of the CSD regulation must— (a) give reasons for the decision; (b) inform P that P may make representations to the Bank within such period as may be specified in the notice (whether or not P has referred the matter to the Tribunal); and (c) inform P of P’s right to refer the matter to the Tribunal, and give an indication of the procedure on such a reference. (3) The Bank may extend the period allowed under the notice under Article 27(8) of the CSD regulation for making representations. (4) If, having considered any representations made by P, the Bank decides to rescind the notice under Article 27(8) of the CSD regulation, it must give P written notice. (5) If, having considered any representations made by P, the Bank decides not to rescind the notice under Article 27(8) of the CSD regulation, it must give P written notice which must comply with paragraph (2)(c). (6) Part 9 of the Act (hearings and appeals) applies to references to the Tribunal under this regulation as it applies to references to the Tribunal under the Act.
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