Section 55U: Applications under this Part, Financial Services and Markets Act 2000

An application for a Part 4A permission must—

contain a statement of the regulated activity or regulated activities which the applicant proposes to carry on and for which the applicant wishes to have permission, and

give the address of a place in the United Kingdom for service on the applicant of any notice or other document which is required or authorised to be served on the applicant under this Act.

An application for the variation of a Part 4A permission must contain a statement—

of the desired variation, and

of the regulated activity or regulated activities which the applicant proposes to carry on if the permission is varied.

An application for the variation of a requirement imposed under section 55L or 55M or for the imposition of a new requirement must contain a statement of the desired variation or requirement.

An application for permission under section 55NA, or for the variation of permission under that section, must contain a statement of the desired permission or variation.

An application under this Part must—

be made in such manner as the regulator to which it is to be made may direct, and

contain, or be accompanied by, such other information as that regulator may reasonably require.

At any time after the application is received and before it is determined, the appropriate regulator may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application or, as the case requires, to decide whether to give consent.

In subsection (5), the "appropriate regulator" means—

in a case where the application is made to the FCA, the FCA;

in a case where the application is made to the PRA, the FCA or the PRA.

Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.

Each regulator may require an applicant to provide information which the applicant is required to provide to it under this section in such form, or to verify it in such a way, as the regulator may direct.

The PRA must consult the FCA before—

giving a direction under this section in relation to a class of applications, or

imposing a requirement under this section in relation to a class of applications.

Section 55U: Applications under this Part

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