Subsection (2) applies where it appears to the FCA that an individual—
is not of sufficiently good repute, or
does not possess sufficient knowledge, skills and experience,
to perform a function in relation to an activity carried on by a non-authorised parent undertaking of an FCA investment firm.
The FCA may make an order ("a Part 9C prohibition order") prohibiting the individual from performing the function.
A Part 9C prohibition order may relate to—
all functions in relation to an activity carried on by a non-authorised parent undertaking of an FCA investment firm, or
a function specified in the order or of a description specified in the order.
A Part 9C prohibition order may relate to—
all activities of a non-authorised parent undertaking of an FCA investment firm, or
an activity specified in the order or of a description specified in the order.
A Part 9C prohibition order may relate to—
all non-authorised parent undertakings of FCA investment firms, or
an undertaking specified, or within a description specified, in the order.
A non-authorised parent undertaking of an FCA investment firm must take reasonable care to ensure that none of its functions is performed by a person who is prohibited from performing that function by a Part 9C prohibition order.