[F1Conditions to be satisfied for regulation 28 to apply: persons to whom regulation 8 ceases to applyU.K.
31.—(1) The conditions are that the person is one—
(a)to whom regulation 8 ceases to apply, in accordance with regulation 17,
(b)who, immediately before that regulation ceases to apply, is carrying on a regulated activity in the United Kingdom, and
(c)who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act.
(2) In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 28.]
Textual Amendments
F1Pt. 6 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 2