Moved by
Lord Deighton
7: Clause 4, page 12, line 19, leave out from “a” to end of line 24 and insert “notice (a “preliminary notice”).
(1A) The preliminary notice must—
(a) state that it is a preliminary notice,
(b) state that the regulator proposes to exercise the group restructuring powers,
(c) state the action which the regulator proposes to take in the exercise of those powers,
(d) be in writing, and
(e) give reasons for the proposed action (which must include the regulator’s reasons for being satisfied as to the matters mentioned in section 142K(1))”