Regulation 11 Plan manager—qualifications and Board’s approval

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

reg. 11(2)(b)(i) words substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 124(a)
reg. 11(2)(b)(ii) words substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 124(b)
reg. 11(2)(c) words substituted by Financial Services and Markets Act 2000 (Taxes) 2001 art. 124(c)
reg.11(2)(b) substituted by Personal Equity Plan 1995 reg.5(a)
reg.11(2)(d) added by Personal Equity Plan 1995 reg.5(b)

(1)

This regulation specifies the circumstances (“qualifying circumstances”) in which a person may be approved by the Board as a plan manager.

(2)

The qualifying circumstances to which paragraph (1) refers are the following–

(a)

the person must make written application to the Board for approval in a form prescribed by the Board;

(b)

a plan manager must be an authorised person within the meaning of Chapter III of Part I of the Financial Services Act 1986^f1 (“the 1986 Act”); and

(c)

a plan manager must not be prevented from acting as such by any prohibition by or under rules under section 48 of the 1986 Act, by or under the rules of any recognised self-regulating organisation of which the plan manager is a member, or by or under the rules of any recognised professional body by which the plan manager is certified, or by a prohibition imposed under section 65 of the 1986 Act.

(3)

The terms of the Board’s approval may include conditions designed to ensure that the provisions of these Regulations are satisfied.

Annotations

Footnotes

f1: 1986 c. 60.