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(ii) complies with such requirements as are prescribed in those Regulations; and
(b) is someone for whose activities in carrying on the whole or part of that business his principal has accepted responsibility in writing;
and who is therefore an exempt person in relation to any regulated activity comprised in the carrying on of that business for which his principal has accepted responsibility.
107(2) (in relation to a firm with a permission only to carry on one or more regulated activities prescribed for the purposes of section 39(1E)(a) of the Act) in accordance with section 39 of the Act, a person ("A") who:
(i) permits or requires A to carry on business of a description prescribed in the Appointed Representatives Regulations ("the relevant business"); and
(ii) complies with such requirements as are prescribed in those Regulations; and
(b) is someone for whose activities in carrying on the whole or part of the relevant business A's principal has accepted responsibility in writing;
and, therefore, to whom sections 20(1) and (1A) and 23(1A) of the Act do not apply in relation to the carrying on by A of a regulated activity which is not one to which A's permission relates, and is comprised in the carrying on of the business for which A's principal has accepted responsibility.
