PART 4Protected Cell Companies

CHAPTER 2Registration

SECTION 1Obtaining registration

Application to register a protected cell company14

1

An application to register a protected cell company may only be made to the PRA.

2

The application must state—

a

that the applicant wishes to form a protected cell company;

b

the name of the proposed protected cell company;

c

the address of the proposed protected cell company’s registered office;

d

the names of the proposed directors of the protected cell company;

e

for each proposed director, the particulars set out in regulation 18; and

f

the names of the persons who are, on registration, to hold voting shares in the core of the protected cell company.

3

The application must contain or be accompanied by—

a

an application made in accordance with regulation 15 (application for permission to carry out a regulated activity);

b

the proposed instrument of incorporation;

c

a statement signed by each person who is to become a director of the protected cell company that the person consents to being a director; and

d

a statement signed by each person who will, on registration, hold voting shares in the core of the protected cell company that the person consents to holding those shares.

4

When the PRA receives an application under paragraph (1), the PRA must forward the application, and any documents received in accordance with paragraph (3), to the FCA without delay.

5

At any time after receiving an application and before determining it, the FCA may require the applicant to provide such additional information as it may reasonably require.

6

Any information to be provided to the FCA under paragraph (5) must be set out in such form and verified in such manner as the FCA may reasonably direct.