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Regulation 31 Conditions to be satisfied for regulation 28 to apply: persons to whom regulation 8 ceases to applyF1

(1)

The conditions are that the person is one—

(a)

to whom regulation 8 ceases to apply, in accordance with regulation 17,

(b)

who, immediately before that regulation ceases to apply, is carrying on a regulated activity in the United Kingdom, and

(c)

who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act.

(2)

In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 28.

Annotations

Textual amendments

F1

Pt. 6 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 2