# Financial Services (Banking Reform) Act 2013, Section 20: Statements of responsibilities

Extent: E+W+S+N.I.

(1) Section 60 of FSMA 2000 (applications for approval) is amended as follows.
(2) After subsection (2) insert—
“(2A) If—
(a) the application is for the approval of a person to perform a designated senior management function, and
(b) the authorised person concerned is a relevant authorised person (see section 71A),
the appropriate regulator must require the application to contain, or be accompanied by, a statement setting out the aspects of the affairs of the authorised person concerned which it is intended that the person will be responsible for managing in performing the function.
(2B) A statement provided under subsection (2A) is known as a “statement of responsibilities”.
(2C) In subsection (2A) “designated senior management function” means a function designated as a senior management function under section 59(6A) or (6B).”
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---
Source: https://www.legislation.gov.uk/ukpga/2013/33/section/20 (the official version)
Page: https://openlegislation.uk/financial-services-banking-reform-act-2013/section-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.