Requirements where the service provider is an individual or partnership
4.—(1) This regulation applies where a service provider (P) is an individual or a partnership.
(2) P must not carry on a regulated activity unless P is fit to do so.
(3) P is not fit to carry on a regulated activity unless P is—
(a)an individual who carries on the regulated activity, otherwise than in partnership with others, and satisfies the requirements set out in—
(i)paragraph (4), and
(ii)paragraph (5), or
(b)a partnership and—
(i)each of the partners satisfies the requirements set out in paragraph (4), and
(ii)P satisfies the requirement set out in paragraph (6).
(4) The requirements referred to in paragraph (3)(a)(i) and (b)(i) are that, if P is an individual, that individual or, if P is a partnership, each of the partners—
(a)is of good character,
(b)is able by reason of their health, after reasonable adjustments are made, of properly performing tasks which are—
(i)where P is an individual, intrinsic to the carrying on of the regulated activity, or
(ii)where P is a partnership, intrinsic to their role in the carrying on of the regulated activity, and
(c)is able to supply to the Commission, or arrange for the availability of, information relating to themselves specified in Schedule 3.
(5) The requirement referred to in paragraph (3)(a)(ii) is that P has the necessary qualifications, skills and experience to carry on the regulated activity.
(6) The requirement referred to in paragraph (3)(b)(ii) is that, through the combination of the qualifications, skills and experience of the partners, P has the necessary qualifications, skills and experience to carry on the regulated activity.