359.This section sets out the circumstances in which a reduction in a person’s control causes them to be subject to the obligation to notify the Authority under section 190.  These are that a person’s shareholding or voting power must cross one of the thresholds set out in subsection (2), or they must cease to be a parent of the UK authorised person.  The level of these thresholds is as for an increase in control and again they are determined largely by the single market directives.
Commentary on Sections Part Xii: Control Over Authorised Persons Section 181: Reducing control