The appropriate regulator may give notice in writing (a "restriction notice") to a person in the following circumstances.
The circumstances are that—
Where the appropriate regulator is the PRA, it must consult the FCA before giving a restriction notice under this section.
Where the appropriate regulator is the FCA, it must consult the PRA before giving a restriction notice under this section if—
In a restriction notice, the appropriate regulator may direct that shares or voting power to which the notice relates are, until further notice, subject to one or more of the following restrictions—
Subsection (3)(a) and (b) does not apply where the voting power represented by the shares in question is suspended under section 190A(2).
A restriction notice takes effect—
A restriction notice does not extinguish rights which would be enjoyable but for the notice.
A copy of the restriction notice must be served on—
A person to whom the appropriate regulator gives a restriction notice may refer the matter to the Tribunal.