PART 4Transitional provision: miscellaneous
Persons who cease to be authorised to carry on a regulated activity before exit day26
1
The modifications specified in paragraphs (2) and (3) apply in respect of a person to whom, before exit day, regulation 22(1)(a) ceases to apply.
2
Section 61 of the 2000 Act (determination of applications) has effect as if, for subsection (3A)(a), there were substituted—
a
in any case where the application under section 60 is made by a person applying for permission, or for the variation of a permission, under Part 4A, means the period within which the application must be determined under section 55V(1) or (2), and
3
Regulation 48 of the Solvency 2 Regulations 2015 (models) has effect as if, in paragraph (4), for the words from “its receipt” to the end there were substituted “the day on which regulation 22(1)(a) ceased to apply in respect of the applicant.”