F1PART 9ARules and Guidance
CHAPTER 1Rule-making powers
Specific rule-making powers
137OThreshold condition code
(1)
Either regulator may make rules supplementing any of the conditions for the time being set out in or specified under Schedule 6 that is expressed to be relevant to the discharge of that regulator's functions.
(2)
Rules made under this section by a regulator are referred to as that regulator's “threshold condition code”.
(3)
A threshold condition code may in particular—
(a)
specify requirements which a person must satisfy in order to be regarded as satisfying a particular condition in relation to any regulated activities;
(b)
specify matters which are, or may be, or are not, relevant in determining whether a person satisfies a particular condition in relation to any regulated activities.
(4)
Except where a regulator's threshold condition code so provides, it is not to be regarded as limiting the matters that are, or may be, relevant in determining whether a person satisfies a particular condition in relation to any regulated activities.
(5)
A threshold condition code cannot impose obligations that are enforceable against authorised persons otherwise than through the threshold conditions.