SCHEDULES
SCHEDULE 13Ownership of licensed bodies
Part 5Enforcement
Records of decisions
Power to notify Board where share limit or voting limit breached
I149
I31
This paragraph applies if the relevant licensing rules make the provision mentioned in paragraph 38(1)(a) or (b).
I32
The licensing authority may, if it considers it appropriate to do so in all the circumstances of the case, notify the Board where a non-authorised person acquires—
a
a shareholding in a licensed body or parent undertaking of a licensed body which exceeds the share limit, or
b
an entitlement to exercise, or control the exercise of, voting rights in a licensed body or parent undertaking of a licensed body which exceeds the voting limit.
I33
If the licensing authority proposes to make a notification under sub-paragraph (2), it must give the person and the licensed body a warning notice.
4
The warning notice must—
I3a
specify the reasons for the proposed notification, and
I2b
state that representations may be made to the licensing authority within the prescribed period.
I25
The licensing authority must consider any representations made within the prescribed period.
I36
If the licensing authority notifies the Board under sub-paragraph (2), it must give the person concerned and the licensed body a copy of the notification and a notice stating the reasons for the notification.
I37
If the share limit or voting limit is breached in relation to a parent undertaking of a licensed body, references in sub-paragraphs (3) and (6) to the licensed body include the parent undertaking.