Section 14(8)

If the applicant is a body corporate which has close links with another person (“CL”) the applicant must satisfy the FCA— that those links are not likely to prevent the FCA's effective supervision of the applicant; and if it appears to the FCA that CL is subject to the laws, regulations or administrative provisions of a territory outside the United Kingdom (“the foreign provisions”), that neither the foreign provisions, nor any deficiency in their enforcement, would prevent the FCA's effective supervision of the applicant.

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