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Section 39(2)

FSMA 2000

In this Act “appointed representative” means— a person who is exempt as a result of subsection (1), or a person carrying on a regulated activity in circumstances where, as a result of subsection (1D), sections 20(1) and (1A) and 23(1A) do not apply.

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