Section 190

The appropriate regulator may, no later than the 50th working day of the assessment period, in writing ask the section 178 notice-giver to provide any further information necessary to complete its assessment. But where a direction has been given by the Bank of England under section 189(1A) or section 189(1ZB) applies, the appropriate regulator must, as soon as reasonably practicable, ask the section 178 notice-giver to provide any further information necessary to complete its assessment. On the first occasion that the appropriate regulator asks for further information, the assessment period is interrupted from the date of the request until the date the appropriate regulator receives the requested information (“the interruption period”). But the interruption period may not exceed 20 working days, unless subsection (4) applies. The interruption period may not exceed 30 working days if the notice-giver— is situated or regulated outside the United Kingdom or Gibraltar; or is not subject to supervision under the laws of the United Kingdom (or any part of the United Kingdom) or of Gibraltar relied on immediately before IP completion day to implement— including rules made by the appropriate regulator under this Act, in force on IP completion day, and, as amended from to time, in all other cases. the UCITS directive; the Solvency 2 Directive; the markets in financial instruments directive; or the capital requirements directive, The appropriate regulator may make further requests for information (but a further request does not result in a further interruption of the assessment period). The appropriate regulator must acknowledge in writing receipt of further information before the end of the second working day following receipt.

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