SCHEDULES

C2SCHEDULE 6 Threshold Conditions

Annotations:
Modifications etc. (not altering text)

Part I Part IV Permission

Adequate resources

C14

1

The resources of the person concerned must, in the opinion of the Authority, be adequate in relation to the regulated activities that he seeks to carry on, or carries on.

2

In reaching that opinion, the Authority may—

a

take into account the person’s membership of a group and any effect which that membership may have; and

b

have regard to—

i

the provision he makes and, if he is a member of a group, which other members of the group make in respect of liabilities (including contingent and future liabilities); and

ii

the means by which he manages and, if he is a member of a group, which other members of the group manage the incidence of risk in connection with his business.