REC 1.2 Purpose, status and quotations, notes or references

The purpose of the guidance in this sourcebook is to give information on the recognised body requirements. Explanations of the purposes of the rules in this sourcebook are given in the chapters concerned.

1. (1)

   Most of the provisions in this sourcebook are marked with a G (to indicate guidance) or an R (to indicate a rule). Quotations from UK statute or statutory instruments are marked with the letters "UK" unless they form part of a piece of guidance. Other informative text regarding provisions of EU directives or onshored regulations which is meant to be for the convenience of readers but is not part of the legislative material is preceded by the word “Note”. For a discussion of the status of provisions marked with a letter, see Chapter 6 of the Reader's Guide.

2. (2)

   Where the guidance states that the FCA may have regard to any factor in assessing or determining whether a recognised body requirement is satisfied, it means that the FCA will take that factor into account so far as it is relevant.

3. (3)

   In determining whether a recognised body satisfies the recognised body requirements, the FCA will have regard to any relevant factor, including, but not limited to, the factors specifically discussed in the guidance.

1. (1)

   This sourcebook contains quotations from the Act, the Recognition Requirements Regulations, the RAP regulations, the Companies Act 1989 and, where necessary, words have been added to, or substituted for, the text of these provisions to facilitate understanding.

2. (2)

   The additions and substitutions are enclosed in square brackets ([ ]). The omission of words within a quotation is indicated by three dots (...).

3. (3)

   Any words in these quotations which have the same meaning as Handbook defined terms are shown in italics and their definitions may be found in the Glossary.

4. (4)

   As these quotations contain provisions which impose obligations, they are printed in bold type. The use of bold type is not intended to indicate that these quotations are rules made by the FCA.

5. (5)

   None of the editorial changes made by the FCA in these quotations can supersede or alter the meaning of the provision concerned.