Textual Amendments
F1Pt. 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)
(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.]