Section 309Z1(4)

In this section— “qualifying function” means a function relating to the carrying on of activities by the following— in the case of a Part 18 approved person, the relevant recognised body on whose application approval was given; in the case of a director or employee of a relevant recognised body, who is not a Part 18 approved person, the relevant recognised body; “relevant objective” means— if the appropriate regulator is the FCA, any of its operational objectives; if the appropriate regulator is the Bank of England, the Financial Stability Objective. “specified” means specified in the rules.

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