Section 137O

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. Rules made under this section by a regulator are referred to as that regulator's “threshold condition code”. A threshold condition code may in particular— specify requirements which a person must satisfy in order to be regarded as satisfying a particular condition in relation to any regulated activities; 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. 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. A threshold condition code cannot impose obligations that are enforceable against authorised persons otherwise than through the threshold conditions.

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Source: legislation.gov.uk · retrieved 2026-09-04