Part IV

Permission to Carry on Regulated Activities

Connected persons

Persons connected with an applicant
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1
In considering—
a
an application for a Part IV permission, or
b
whether to vary or cancel a Part IV permission,
the Authority may have regard to any person appearing to it to be, or likely to be, in a relationship with the applicant or person given permission which is relevant.
2
Before—
a
giving permission in response to an application made by a person who is connected with an EEA firm, or
b
cancelling or varying any permission given by the Authority to such a person,
the Authority must consult the firm’s home state regulator.
3
A person (“A”) is connected with an EEA firm if—
a
A is a subsidiary undertaking of the firm; or
b
A is a subsidiary undertaking of a parent undertaking of the firm.