Schedule 7, Part 3, paragraph 16(1)

The appropriate UK regulator may refuse to give a consent to variation notice in relation to a proposed variation only if— it is satisfied that the variation notice does not satisfy one or more of the requirements in paragraph 14, or it appears to the regulator that it is desirable to refuse to do so in order to advance one or more of its objectives.

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