Part IV U.K. Permission to Carry on Regulated Activities

Modifications etc. (not altering text)

C1 Pt. IV (ss. 40-55) extended (1.12.2001) by S.I. 2001/2636, arts. 1(2)(b), 3-24; S.I. 2001/3538, art. 2(1)

Pt. IV (ss. 40-55) extended (with modifications) (1.12.2001) by S.I. 2001/2636, arts. 1(2)(b), 35(5)(a); S.I. 2001/3538, art. 2(1)

Pt. IV (ss. 40-50) excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 107(2) (with art. 23(2))

Pt. IV (ss. 40-55) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a), 121(3), 128(3)(a) (with art. 23(2))

Application for permission U.K.

Valid from 03/09/2001

40 Application for permission. U.K.

(1) An application for permission to carry on one or more regulated activities may be made to the Authority by—

(a) an individual;

(b) a body corporate;

(c) a partnership; or

(d) an unincorporated association.

(2) An authorised person may not apply for permission under this section if he has a permission—

(a) given to him by the Authority under this Part, or

(b) having effect as if so given,

which is in force.

(3) An EEA firm may not apply for permission under this section to carry on a regulated activity which it is, or would be, entitled to carry on in exercise of an EEA right, whether through a United Kingdom branch or by providing services in the United Kingdom.

(4) A permission given by the Authority under this Part or having effect as if so given is referred to in this Act as “a Part IV permission”.

Modifications etc. (not altering text)

C2 S. 40 extended (1.12.2001) by S.I. 2001/3592, arts. 1(2), 3, 98 (with art. 23(2))

C3 S. 40 applied (with modifications) (8.4.2002) by The Financial Services and Markets Act 2000 (Permission and Applications) (Credit Unions etc.) Order 2002 (S.I. 2002/704), arts. 3, 4

C4 S. 40(2) excluded (10.8.2001) by S.I. 2001/2636, arts. 1(2)(a), 63(3)

S. 40(2) modified (31.10.2001) by S.I. 2001/3374, art. 1, Sch. para. 3

C5 S. 40(2) modified (31.10.2004) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), arts. 1(2)(b), 5, Sch. para. 3

C6 S. 40(2) modified (14.1.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004 (S.I. 2004/3351), arts. 1(2)(b), 5, Sch. para. 3

C7 S. 40(2) modified (6.4.2007) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), arts. 1(3), 7, Sch. para. 3(b)

C8 S. 40(2) modified (30.6.2008 for certain purposes, otherwise 1.1.2009) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2007 (S.I. 2007/3510), arts. 1(2), 7(1)(3)

C9 S. 40(2) modified (1.7.2009 for certain purposes, otherwise 30.6.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 34, Sch. paras. 1, 3

C10 S. 40(2) excluded (31.12.2011) by The Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011 (S.I. 2011/2832), art. 5(3)

C11 S. 40(3) excluded (1.12.2001) by S.I. 2001/2511, regs. 1(1), 9(5); S.I. 2001/3538, art. 2(1)