Section 20(2)

After subsection (2) insert— If— the appropriate regulator must require the application to contain, or be accompanied by, a statement setting out the aspects of the affairs of the authorised person concerned which it is intended that the person will be responsible for managing in performing the function. the application is for the approval of a person to perform a designated senior management function, and the authorised person concerned is a relevant authorised person (see section 71A), A statement provided under subsection (2A) is known as a “statement of responsibilities”. In subsection (2A) “designated senior management function” means a function designated as a senior management function under section 59(6A) or (6B).

← 1 · All articles · 3 →

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