I'm at a regional in the US and use the monitored approach for Cat II ILS. Autopilot mandatory, FO acts as PF until he calls Minimums at which point the Captain takes control and lands if he sees the runway. (I say CA and FO because the roles are not reversible for Cat II)
I didn't know how to feel about this when I first learned about it and was a bit skeptical of the last-minute monkey motion, but I see the rationale, which is that the Captain has more reaction time once going visual if he's already outside looking for the runway, than he would if transitioning from instruments to outside.