PART 3Grant of authorisations
Conditions of authorisation12
1
The Regulator may grant an authorisation subject to a condition or conditions.
2
In particular, and without limiting the effect of paragraph (1), a condition may be—
a
if the authorised person was granted authorisation despite not satisfying a requirement for authorisation, that the person satisfies the requirement within a specified period;
b
a condition as to the way in which the person provides the service;
c
that the person provides only a specified service or services; or
d
that the person provides a service only in specified circumstances.
3
The Regulator may revoke the imposition of a condition on an authorisation if he is satisfied that it is no longer necessary for the authorisation to be subject to the condition.
4
If the Regulator revokes the imposition of a condition, the Regulator must give the authorised person a new instrument of authorisation under regulation 13 that does not show the condition.
5
In addition to any condition imposed by the Regulator, the following are conditions of an authorised person’s authorisation—
a
that the person complies with the rules;
b
that the person complies with any applicable code of practice;
c
that if the person accepts referrals of potential clients from another person (not being a person required to be an authorised person), the person takes reasonable steps to ensure that the other person obtains the business in a way consistent with the rules;
d
that the person complies with any direction of the Regulator under Part 5 (which deals with indemnity insurance);
e
that the person permits inspection by the Regulator under Part 8 (which is about routine audit);
f
that in each year, if the Regulator so requires by notice in writing, the person certifies in writing to the Regulator that during the past year the person has complied with the conditions mentioned in sub-paragraphs (a), (b) and (c) and any other condition of the authorisation specified in the notice;
g
that in each year, within 1 month after the Regulator issues an invoice to the person for the annual fee, the person pays the Regulator the amount of that fee in accordance with the invoice;