Regulation 14 Steps to be taken before IP completion day: application or notificationF2

United Kingdom

(1)

For the purposes of regulations 9(1)(b) and 12(1)(b), the steps are that the person has, before F1IP completion day—

(a)

made an application—

(i)

in the case of a person who satisfies the conditions in regulation 10, for permission under Part 4A of that Act, or

(ii)

in the case of a person who satisfies the conditions in regulation 13, for a variation of such a permission,

which has, immediately before IP completion day, not been withdrawn by the person or determined by a regulator in accordance with section 55V of that Act, or

(b)

notified the relevant regulator that the person wishes to be treated in accordance with regulation 8 or 11.

(2)

For the purposes of paragraph (1)(b), the notification must—

(a)

be made in such manner, and during such period, and

(b)

contain, or be accompanied by, such information,

as the relevant regulator may direct.

Annotations

Textual amendments

F1: Words in reg. 14 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(h)
F2: Words in reg. 14 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(h)