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Application provision

1.1 (1) This Part applies to every function a person (P) performs in relation to a firm (A) that is:

    1. (a) a CRR firm;
    2. (b) a credit union; or
    3. (c) a third country CRR firm in relation to the activities of its establishment in the UK.
  1. (2) This Part only applies if P:
    1. (a) is approved under section 59 of FSMA to perform a senior management function in relation to A;
    2. (b) is an employee of A that should have been so approved;
    3. (c) is an employee or director who is performing a function that would have been a controlled function but for Senior Management Functions 2.3;
    4. (d) performs a certification function in relation to A; or
    5. (e) is a Conduct Rules non-executive director of A.
  2. (3) 3.1 to 3.3 only apply to a person in (2)(a) or (b).
  3. (4) 3.4 only applies to a person in (2)(a), (b) or (e).

1.1

03/07/2017

  1. (1) This Part applies to every function a person (P) performs in relation to a firm (A) that is:
    1. (a) a CRR firm;
    2. (b) a credit union; or
    3. (c) a third country CRR firm in relation to the activities of its establishment in the UK.
  2. (2) This Part only applies if P:
    1. (a) is approved under section 59 of FSMA to perform a senior management function in relation to A;
    2. (b) is an employee of A that should have been so approved;
    3. (c) is an employee or director who is performing a function that would have been a controlled function but for Senior Management Functions 2.3;
    4. (d) performs a certification function in relation to A; or
    5. (e) is a Conduct Rules non-executive director of A.
  3. (3) 3.1 to 3.3 only apply to a person in (2)(a) or (b).
  4. (4) 3.4 only applies to a person in (2)(a), (b) or (e).

1.2

03/07/2017

In this Part, the following definitions shall apply:

director

means, in relation to a firm, a person who is a member of the board of directors of the firm or, if there is no such board, the equivalent body responsible for the management of the firm;

employee

has the meaning given in Certification 1.2.

senior management function

means either a PRA senior management function or an FCA designated senior management function.