The Regulatory Reform (Financial Services and Markets Act 2000) Order 2007

Persons connected with an applicant

4.  In section 49 (persons connected with an applicant), for subsection (2)(b) substitute—

(b)varying any permission given by the Authority to such a person, where the effect of the variation is to grant permission for the purposes of a single market directive other than the one for the purposes of which the existing permission was granted,.