Section 22A “Regulated person” and “regulated group”F1

(1)

A person is a “regulated person” for the purposes of this Part if the Secretary of State is satisfied that—

(a)

the person carries on, or proposes to carry on, an activity, and

(b)

a qualifying regulator has a relevant function which is, or would be, exercisable in relation to the person in respect of the activity.

(2)

A group of persons is a “regulated group” for the purposes of this Part if the Secretary of State is satisfied that—

(a)

a member of the group carries on, or proposes to carry on, an activity, and

(b)

a qualifying regulator has a relevant function which is, or would be, exercisable in relation to the member in respect of the activity.

Annotations

F1: Pt. 2 substituted (4.5.2016 for specified purposes, 1.10.2017 in so far as not already in force) by Enterprise Act 2016 (c. 12), ss. 20(1), 44(1)(c); S.I. 2017/473, reg. 3(b)