Prudential Regulation Authority Rulebook

2A.1

1. (1) In the case of a section 59ZZA application, the following directions shall have effect in substitution for any directions relating to the provision of information, documents, statement of responsibilities and form of application which would otherwise apply on the making of an application under section 60 of FSMA.
2. (2) The PRA directs that the application must contain the information and be accompanied by such documents as are set out in the form approved by the PRA for the purposes of this direction; except that where the application is in respect of a person who holds a current approved persons approval, Form E may be used in accordance with 2.3 instead.
3. (3) The PRA directs that the application must be accompanied by a statement of responsibilities in accordance with Insurance - Allocation of Responsibilities 5.4, containing such information as is set out in the form approved by the PRA for the purposes of this direction; except that where a Form E is used pursuant to (2) above, the application must provide a statement of responsibilities specified in 2.7.
4. (4) A function performed by a person in relation to whom a notice under section 59ZZA of FSMA could be given, shall not (otherwise than for the purposes of making an application under section 60 of FSMA), be treated as a controlled function until the earliest of:
1. (a) 12 weeks beginning on the day on which IP completion day occurs;
2. (b) the giving of the notice under Section 59ZZA; or
3. (c) the notification by the PRA of its decision to grant or refuse the application.
5. (5) In this Chapter statement of responsibilities form means for a firm making a section 59ZZA application the form to be completed by a firm containing:
1. (a) the information referred to in Insurance – Allocation of Responsibilities 5.1(3);
2. (b) in respect of 2A.1(3), the information required by section 60(2A) of FSMA; and
3. (c) in respect of Insurance – Allocation of Responsibilities 5.5, the information required by section 60(2A) of FSMA.