362.This section gives the Authority up to three months from the date it receives a completed notice to determine whether to approve the application or issue a warning notice indicating that it is proposing to object to the acquisition of, or increase in, control.
363.Subsection (2) imposes a requirement on the Authority to consult home State competent authorities when required to do so by regulations made by the Treasury.  The nature of this requirement is determined by the single market directives.
Commentary on Sections Part Xii: Control Over Authorised Persons Section 183: Duty of Authority in relation to notice of control