A person who decides to reduce or cease to have control over a UK authorised person must give the appropriate regulator notice in writing before making the disposition.
The PRA must give the FCA a copy of any notice it receives under this section.
The FCA must give the PRA a copy of any notice it receives under this section which—
relates to a UK authorised person who has as a member of its immediate group a PRA-authorised person, or
is given by a PRA-authorised person.
For the purposes of calculations relating to this section, the holding of shares or voting power by a person ("A1") includes any shares or voting power held by another ("A2") if A1 and A2 are acting in concert.