AUTH 3.1 Application and purpose

This chapter applies to:

1. (1)

   an individual, a body corporate (including a branch of a body corporate), a partnership or an unincorporated association which is not an authorised person and which wishes to apply for Part IV permission to carry on regulated activities in the United Kingdom;

2. (2)

   an EEA firm or a Treaty firm seeking to carry on regulated activities in the United Kingdom other than through the exercise of an EEA right or Treaty right;

3. (3)

   an EEA firm, Treaty firm or UCITS qualifier wishing to apply for a top-up permission to carry on any regulated activity.

This chapter gives guidance to applicants on how the FSA will exercise the powers granted to it in Part IV of the Act (Permission to carry on regulated activities) to determine an application and give Part IV permission. In particular, the chapter gives guidance on:

1. (1)

   permission under Part IV of the Act;

2. (2)

   the procedures, under section 51 of the Act (Application under this Part), for making an application to the FSA for Part IV permission;

3. (3)

   when and how the FSA will determine applications under section 52 of the Act (Determination of applications); and

4. (4)

   when and how a person becomes authorised under the Act.