Section 66B(8)

In this section— “approved person”— means a person in relation to whom— the PRA has given its approval under section 59, or the FCA has given its approval under section 59 in respect of the performance by the person of a relevant senior management function in relation to the carrying on by a PRA-authorised person of a regulated activity, and in relation to an authorised person, means a person in relation to whom approval under section 59 is given on the application of the authorised person; “director”, in relation to an authorised person, has the same meaning as in section 64A; “employee”, in relation to a person, has the same meaning as in section 64A; ... “relevant senior management function” means a function which the PRA is satisfied is a senior management function as defined in section 59ZA (whether or not the function has been designated as such by the FCA).

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