On 25 May 2009, the Financial Regulator (FR) published an 'Acquiring Transaction Notification Form'. This form is to be used to give the FR prior notice of a proposed acquisition of (or increase in) a 'qualifying holding', or shareholding of a certain level, in certain regulated entities, including insurance and reinsurance companies. Pre-clearance of such transactions (and also of equivalent disposals) has been required, in most cases, for many years. The approach to clearance of the acquisition aspect is now being streamlined to meet the requirements of Directive 2007/44/EC (the Acquisitions Directive), which is due to be implemented shortly. Among the most noteworthy requirements of the form is the requirement that, in certain cases, a three year business plan must be provided.