23 Power to give approval subject to conditions or for limited period
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

23  Power to give approval subject to conditions or for limited period

(1)     Section 61 of FSMA 2000 (determination of applications) is amended as follows.

(2)     For subsection (1) substitute—

“(1)     The regulator to which an application for approval is made under section 60 may grant the application only if—

(a)     it is satisfied that the person in respect of whom the application is made (“the candidate”) is a fit and proper person to perform the function to which the application relates, or

(b)     in a case where the application is for approval to perform a designated senior management function in relation to the carrying

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