Section 404F: Other definitions etc

For the purposes of sections 404 to 404B—

• "redress" includes—

  (a)interest; and

  (b)a remedy or relief which could not be awarded in legal proceedings;

• "specified" means specified in rules made under section 404.

In determining for the purposes of those sections whether an authorised person has failed to comply with a requirement, anything which an appointed representative has done or omitted as respects business for which the authorised person has accepted responsibility is to be treated as having been done or omitted by the authorised person.

References in those sections to the failure by a relevant firm to comply with a requirement applicable to the carrying on by it of any activity include anything done, or omitted to be done, by it in carrying on the activity—

It does not matter whether—

arises as a result of any provision made by or under this or any other Act, a rule of law or otherwise.

References in sections 404 to 404B to a relevant firm include—

References in those sections to the carrying on of an activity by a relevant firm are, accordingly, to be read in that case with the appropriate modifications.

References in sections 404 and 404E to an "electronic money issuer" are references to a person mentioned in paragraph (a), (b), (c), (d), (h) or (i) of the definition of "electronic money issuer" in regulation 2(1) of the Electronic Money Regulations 2011.

If the FCA varies a permission or authorisation of a person so as to impose requirements on the person to establish and operate a scheme which corresponds to, or is similar to, a consumer redress scheme, the provision that may be included in the permission or authorisation as varied includes—

In subsection (7) the reference to the variation of a permission or authorisation by the FCA is a reference to—