Section 183

For the purposes of this Part, a person (“A”) reduces control over a UK authorised person (“B”) whenever— the percentage of shares which A holds in B or in a parent undertaking of B (“P”) decreases by any of the steps mentioned in subsection (2); the percentage of voting power which A holds in B or P decreases by any of the steps mentioned in subsection (2); or A ceases to be a parent undertaking of B. The steps are— from 50% or more to less than 50%; from 30% or more to less than 30%; from 20% or more to less than 20%. For the purposes of this Part, a person (“A”) ceases to have control over a UK authorised person (“B”) if A ceases to be in the position of holding— 10% or more of the shares in B or in a parent undertaking of B (“P”); 10% or more of the voting power in B or P; or shares or voting power in B or P as a result of which A is able to exercise significant influence over the management of B.

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Source: legislation.gov.uk · retrieved 2026-09-04