Section 29(5)

A function is a “significant-harm function”, in relation to the carrying on of a regulated activity by an authorised person, if— the function will require the person performing it to be involved in one or more aspects of the authorised person's affairs, so far as relating to the activity, and those aspects involve, or might involve, a risk of significant harm to the authorised person or any of its customers.

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