Article 3 Transitional provisions
Paragraph (2) applies to a person (“A”) who immediately before commencement had Part IV permission to carry on an activity of the kind specified by article 52 of the Principal Order.
On commencement A is to be treated as also having Part IV permission to carry on the activity of establishing, operating or winding up a personal pension scheme.
Paragraph (4) applies to a person (“B”) who immediately before commencement had Part IV permission to carry on an activity of the kind specified by article—
14 (dealing in investments as principal),
21f1 (dealing in investments as agent),
25 (arranging deals in investments),
37 (managing investments),
40 (safeguarding and administering investments),
45f2 (sending dematerialised instructions),
53f3 (advising on investments), or
in so far as relevant to any activity specified in this paragraph or by article 52 of the Principal Order, 64f4 (agreeing to carry on specified kinds of activity),
of the Principal Order in relation to rights under a stakeholder pension scheme (“a relevant permission”).
On commencement B is to be treated as also having Part IV permission to carry on, in relation to rights under a personal pension scheme, any of the activities of a kind mentioned in paragraph (3) for which he had a relevant permission immediately before commencement.
No person shall be treated as having his Part IV permission extended in accordance with this article if on or before 23rd March 2007 he gave written notice to the Authority that he did not wish to have his permission extended.