88ZNFurther particulars about change in beneficial ownership

#### 88ZN Further particulars about change in beneficial ownership (1) The Authority may, in writing given to the changed company, request the company to provide further information about the change in order to enable the Authority to properly consider the matters in regulation 88ZO. (2) The Authority may, by written notice given to the changed company, suspend or revoke the permission held by the changed company (or modify the conditions of the permission) if the company does not provide the information to the Authority within 20 business days (or such longer period specified by the Authority) after the Authority gives the request to the company. (3) Before suspending or revoking the permission (or modifying the conditions of the permission) under subregulation (2), the Authority must: (a) give the company notice in writing of the facts and circumstances that, in the opinion of the Authority, justify suspending or revoking the permission (or modifying the conditions of the permission); and (b) include in the notice a statement that the holder may, within 20 business days after the date of the notice (or such longer period as is specified in the notice), provide reasons to the Authority why the permission should not be suspended or revoked or why the conditions should not be modified. (4) In deciding whether or not to suspend or revoke the permission (or modify the conditions of the permission), the Authority must consider any reasons provided by the permission holder in response to a notice under subregulation (3).