Section 55G(5)

Subsection (6) applies where either regulator (“the responsible regulator”) receives an application for permission under section 55A which is in the regulator's opinion similar to an application which was previously made to the other regulator and was either— treated by the other regulator as not being a valid application to that regulator because of the regulated activities to which it related, or refused by the other regulator after being considered.

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