SYSC 27.6 Other exclusions

This chapter does not apply to a function performed by a person acting as:

1. (1)

    an insolvency practitioner under section 388 of the Insolvency Act 1986;

2. (2)

    a nominee in relation to a voluntary arrangement under Part I (Company Voluntary Arrangements) of the Insolvency Act 1986;

3. (3)

    an insolvency practitioner under article 3 of the Insolvency (Northern Ireland) Order 1989;

4. (4)

    a nominee in relation to a voluntary arrangement under Part II (Company Voluntary Arrangements) of the Insolvency (Northern Ireland) Order 1989;

5. (5) a person acting as a resolution administrator appointed by the Bank of England in accordance with section 62B of the Banking Act 2009;
6. (6) a person appointed by the Bank of England as a director or a senior manager to a bank, building society, stabilisation vehicle or banking group company for any purpose in connection with the exercise of a stabilisation option or a stabilisation power; or

7. (7) a person appointed by the Treasury as a director or a senior manager to a bank, building society or banking group company for any purpose in connection with the exercise of the temporary public ownership stabilisation option, throughout the period of 2 years beginning with the date of that appointment.

    

1. (1) ‘banking group company’ has the meaning in section 81D of the Banking Act 2009;
2. (2) ‘senior manager’ means a person who exercises executive functions and is responsible, and directly accountable to the directors, for the day-to-day management of a bank, building society, stabilisation vehicle or banking group company;
3. (3) ‘stabilisation option’ means any of the stabilisation options listed in section 1(3) of the Banking Act 2009;
4. (4) ‘stabilisation power’ means any of the stabilisation powers listed in section 1(4) of the Banking Act 2009;
5. (5) ‘stabilisation vehicle’ means a bridge bank as defined in section 12(1) of the Banking Act 2009 or an asset management vehicle as defined in section 12ZA(2) of the Banking Act 2009; and

6. (6) ‘temporary public ownership stabilisation option’ means the transfer to temporary public ownership in accordance with section 13 of the Banking Act 2009.

    

A function performed by a non-executive director of a firm acting as such is not an FCA certification function for that firm.

1. (1)

   This chapter does not apply to a firm in relation to benchmark activities.

2. (2)

   In particular, this chapter does not apply to a pure benchmark SMCR firm.

Performing any of the following is not an FCA certification function:

1. (1)

   a responsibility allocated to an SMF manager under SYSC 26.3 (Main rules); or

2. (2)

   a responsibility allocated to someone under SYSC 26.4.6R (Exclusion where the 12-week rule applies).

SYSC 27.6.6R does not apply to having overall or local responsibility for the SMCR legal function.

A function in paragraph (A) of row (6) of the table in COCON 1.1.2R (Table: To whom does COCON apply?) is not an FCA certification function.

This chapter does not apply to a firm that meets the following conditions:.

1. (1)

   it is an internally managed AIF;

2. (2)

   it is a body corporate; and

3. (3)

   it is not a collective investment scheme.