Regulation 4 Requirements where the service provider is an individual or partnership

(1)

This regulation applies where a service provider (P) is an individual or a partnership.

(2)

P must not carry on a regulated activity unless P is fit to do so.

(3)

P is not fit to carry on a regulated activity unless P is—

(a)

an individual who carries on the regulated activity, otherwise than in partnership with others, and satisfies the requirements set out in paragraph (4); or

(b)

a partnership and each of the partners satisfies the requirements set out in paragraph (4);

(4)

The requirements referred to are that P or, where applicable, each of the partners is—

(a)

of good character;

(b)

physically and mentally fit to carry on the regulated activity and has the necessary qualifications, skills and experience to do so; and

(c)

able to supply to the Commission, or arrange for the availability of, information relating to themselves specified in Schedule 3.