Section 23(2)

Paragraph (1) does not apply to an authorised person which— immediately before the day on which these Regulations come into force (“the relevant date”) was acting as a money service business or a trust or company service provider and continues to act as such after that date; and informs the FCA that it is acting as such within 30 days of the relevant date.

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