F1PART 4APermission to carry on regulated activities
Application for permission
55GGiving permission: special cases
(1)
“The applicant” means an applicant for permission under section 55A.
(2)
If the applicant—
(a)
in relation to a particular regulated activity, is exempt from the general prohibition as a result of section 39(1) or an order made under section 38(1), but
(b)
has applied for permission in relation to another regulated activity,
the application is to be treated as relating to all the regulated activities which, if permission is given, the applicant will carry on.
(3)
If the applicant—
(a)
(b)
has applied for permission in relation to another regulated activity,
the application is to be treated as relating only to that other regulated activity.
(4)
If the applicant—
(a)
is a person to whom, in relation to a particular regulated activity, the general prohibition does not apply as a result of Part 19, but
(b)
has applied for permission in relation to another regulated activity,
the application is to be treated as relating only to that other regulated activity.
(5)
Subsection (6) applies where either regulator (“the responsible regulator”) receives an application for permission under section 55A which is in the regulator's opinion similar to an application which was previously made to the other regulator and was either—
(a)
treated by the other regulator as not being a valid application to that regulator because of the regulated activities to which it related, or
(b)
refused by the other regulator after being considered.
(6)
The responsible regulator must have regard to the desirability of minimising—
(a)
the additional work for the applicant in dealing with the new application, and
(b)
the time taken to deal with the new application.