F1PART 6Transitional and saving provision: limited permission to carry on a regulated activity
CHAPTER 1Temporary limited permission to carry on a regulated activity
Deemed permission under Part 4A of the Financial Services and Markets Act 2000C128
1
A person to whom this regulation applies shall be treated as if the person has permission to carry on a regulated activity in the United Kingdom under Part 4A of the 2000 Act.
2
The regulated activity a person is permitted to carry on by virtue of this regulation is one specified (by reference to regulations 30 to 32) in regulation 33.
3
Reference in an enactment to a person with permission under Part 4A of the 2000 Act (however expressed) is to be read, unless the contrary intention appears, as including a person treated as having permission to carry on a regulated activity under that Part by virtue of this regulation.
4
Accordingly, a power of a regulator under the 2000 Act is exercisable in respect of such a person, and a regulated activity the person is permitted to carry on by virtue of this regulation, as it is in respect of a person with permission under Part 4A of that Act, and a regulated activity the person is permitted to carry on by virtue of Part 4A of that Act.
5
Such a power is exercisable in relation to, in particular—
a
the variation or cancellation of a permission to carry on a regulated activity, or
b
the imposition of requirements, prohibitions or restrictions on a person who has such a permission.
Pt. 6 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 2