In section 355 (interpretation of Part 24) at the end of subsection (1) insert—

““PRA-regulated person” means a person who—

(a)

is or has been a PRA-authorised person,

(b)

is or has been an appointed representative whose principal (or one of whose principals) is, or was, a PRA-authorised person, or

(c)

is carrying on or has carried on a PRA-regulated activity in contravention of the general prohibition.”