Prospective
7(1)“Suitable regulatory arrangements”, in relation to a licensable body and a competent licensing authority, means regulatory arrangements which are suitable in relation to the licensable body, having regard to—E+W
(a)the composition of the licensable body, including in particular the matters in sub-paragraph (2);
(b)the services the licensable body proposes to provide;
(c)if the licensable body proposes to carry on non-reserved activities, any regulation to which the carrying on of such activities is subject;
(d)the persons to whom the licensable body proposes to provide services.
(2)The matters are—
(a)the kinds of authorised persons who are managers of, or have an interest in, the licensable body,
(b)the proportion of persons who are managers of, or have an interest in, the licensable body who are authorised persons or authorised persons of a particular kind,
(c)the kinds of non-authorised persons who are managers of, or have an interest in, the licensable body,
(d)the proportion of persons who are managers of, or have an interest in, the licensable body who are non-authorised persons or non-authorised persons of a particular kind, and
(e)the kinds of non-authorised persons who have an indirect interest in the licensable body.
(3)In sub-paragraph (2)—
(a)“authorised person” means a person who is an authorised person in relation to any activity which is a reserved legal activity, and
(b)authorised persons are of different kinds if they are authorised to carry on such activities by different approved regulators.