Article 4 Permitted revisions

For the purposes of article 2(1)(d), a revision notice revises the scope of permission notice in a permitted manner if—

(a)

in Case 1 in article 3, it results in the scope of permission notice specifying that the recipient has a Part IV permission to carry on the regulated activities described in paragraph (b) of that Case;

(b)

in Case 2 in article 3, it results in the scope of permission notice specifying that the recipient has a Part IV permission to carry on the regulated activity described in paragraph (c) of that Case;

(c)

in Case 3 in article 3, it results in the scope of permission notice specifying that his Part IV permission to carry on a particular regulated activity in relation to rights to or interests in investments is limited to rights to or interests in investment B (as defined in that Case);

(d)

in Case 4 in article 3, it results either in the lifting of the requirement that the recipient should not control client money or in the lifting of the requirement that he should not hold or control client money;

(e)

in Case 5 in article 3, it results in the removal of the limitation described in paragraph (c) of that Case;

(f)

in Case 6 in article 3, it results in the removal of the limitation described in paragraph (c) of that Case;

(g)

in any Case in article 3, it results in the scope of permission notice specifying that the recipient has a Part IV permission to carry on a regulated activity of the kind specified by article 64 of the Regulated Activities Order (agreeing to carry on specified kinds of activity) to the extent appropriate having regard to paragraphs (a) to (f) above.