Section 309K Determining applications: power to grant approvalF1

The appropriate regulator may grant an application under section 309I for approval for a person to perform a designated senior management function only if—

In determining the application, the appropriate regulator may have regard, among other things, to the matters mentioned in section 309J(2) (qualifications etc of person for whom approval sought).

The appropriate regulator may, if it appears to it that it is desirable to do so in order to advance a relevant objective—

For the purposes of subsection (3), “relevant objective” means—

Before granting approval under this section (whether or not subject to conditions or for a limited period), the appropriate regulator must comply with such consultation requirements as may be prescribed.