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Section 55G: Giving permission: special cases

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part 4A: Permission to carry on regulated activities

"The applicant" means an applicant for permission under section 55A.

If the applicant—

in relation to a particular regulated activity, is exempt from the general prohibition as a result of section 39(1) or an order made under section 38(1), but
has applied for permission in relation to another regulated activity,

the application is to be treated as relating to all the regulated activities which, if permission is given, the applicant will carry on.

If the applicant—

in relation to a particular regulated activity, is exempt from the general prohibition as a result of ... section 285, but
has applied for permission in relation to another regulated activity,

the application is to be treated as relating only to that other regulated activity.

If the applicant—

is a person to whom, in relation to a particular regulated activity, the general prohibition does not apply as a result of Part 19, but
has applied for permission in relation to another regulated activity,

the application is to be treated as relating only to that other regulated activity.

Subsection (6) applies where either regulator ("the responsible regulator") receives an application for permission under section 55A which is in the regulator's opinion similar to an application which was previously made to the other regulator and was either—

treated by the other regulator as not being a valid application to that regulator because of the regulated activities to which it related, or
refused by the other regulator after being considered.

The responsible regulator must have regard to the desirability of minimising—

the additional work for the applicant in dealing with the new application, and
the time taken to deal with the new application.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.