(1) The proposed acquirer in relation to a proposed acquisition may complete the acquisition only if -

(a) the proposed acquirer has notified the Bank of the acquisition in accordance with Regulation 60,

(b) the Bank has acknowledged that notification in accordance with Regulation 63, and

(c) either -

(i) the assessment period in relation to the acquisition has ended and the Bank has not notified the proposed acquirer that it opposes the acquisition, or

(ii) the Bank has notified the proposed acquirer that it does not oppose the acquisition.

(2) If a proposed acquirer purports to complete a proposed acquisition in contravention of paragraph (1) -

(a) the purported acquisition is of no effect to pass title to any share or any other interest, and

(b) any exercise of powers based on the purported acquisition of the holding concerned is void.