Financial Services and Markets Act 2000

41 The threshold conditions. U.K.

(1) “The threshold conditions”, in relation to a regulated activity, means the conditions set out in Schedule 6.

(2) In giving or varying permission, or imposing or varying any requirement, under this Part the Authority must ensure that the person concerned will satisfy, and continue to satisfy, the threshold conditions in relation to all of the regulated activities for which he has or will have permission.

(3) But the duty imposed by subsection (2) does not prevent the Authority, having due regard to that duty, from taking such steps as it considers are necessary, in relation to a particular authorised person, in order to secure its regulatory objective of the protection of consumers.

Modifications etc. (not altering text)

C1 S. 41 modified (3.9.2001) by S.I. 2001/2507, arts. 1(1), 3(1); S.I. 2001/2632, art. 2(2), Sch. Pt. 2

S. 41 applied (1.12.2001) by S.I. 2001/3592, arts. 1(2), 10(3)(b), 15(2), 18(4)(b), 29(4)(b) (with art. 23(2))

Commencement Information

I1 S. 41 wholly in force at 3.9.2001; s. 41 not in force at Royal Assent see s. 431(2); s. 40(1) in force at 25.2.2001 by S.I. 2001/516, art. 2(a), Sch. Pt. 1; s. 41(2)(3) in force at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2