17(1)If the licensing authority is not satisfied that the approval requirements are met in relation to the investor's holding of the notified interest, it may approve the investor's holding of the notified interest subject to conditions.E+W
(2)It may do so only if it considers that, if the conditions are complied with, it will be appropriate for the investor to hold the notified interest without the approval requirements being met.
(3)If the licensing authority proposes to approve the investor's holding of the notified interest subject to conditions it must give the investor and the applicant a warning notice.
(4)The warning notice must—
(a)specify the nature of the conditions proposed and the reasons for their imposition, and
(b)state that representations may be made to the licensing authority within the prescribed period.
(5)The licensing authority must consider any representations made within the prescribed period.
(6)If the licensing authority approves the investor's holding of the notified interest subject to conditions, it must notify the investor and the applicant of its approval as soon as reasonably practicable.
(7)The notice must—
(a)specify the reasons for the imposition of the conditions, and
(b)explain the effect of Part 5 of this Schedule.
Commencement Information
I1Sch. 13 para. 17 partly in force; Sch. 13 para. 17 not in force at Royal Assent see s. 211; Sch. 13 para. 17(4)(b)(5) in force for certain purposes at 1.1.2009 by S.I. 2008/3149, art. 2(d)(iv)
I2Sch. 13 para. 17(1)-(3)(4)(a)(6)(7) in force at 1.10.2011 by S.I. 2011/2196, art. 2(1)(d)
I3Sch. 13 para. 17(4)(b)(5) in force at 1.10.2011 in so far as not already in force by S.I. 2011/2196, art. 2(1)(d)