37. Imposition of requirements on acquisition of Control

(1) This section applies if it appears to the Regulator that —
(a) a person has acquired Control over an Authorised Person; and
(b) there are no grounds for exercising its Own-Initiative Requirement Power.
(2) If it appears to the Regulator that the likely effect of the acquisition of Control on the Authorised Person, or on any of its activities, is uncertain, the Regulator may —
(a) impose on the Authorised Person a requirement that could be imposed by the Regulator under section 35 on the giving of a Financial Services Permission; or
(b) vary a requirement imposed by the Regulator under that section on the Authorised Person.
(3) Any reference to a person having acquired Control is to be read in accordance with Part 10.