Related provisions for DTR 1C.2.3
1 - 20 of 100 items.
(1) Where a firm is submitting an application for variation of Part 4A permission24 which would lead to a change in the controlled functions of its approved persons, it should, at the same time and as appropriate:24(a) make an application for an internal transfer of an approved person, Form E (Internal transfer of a person performing a controlled function22), or make an application for an individual to perform additional controlled functions, the relevant11 Form A (Application
20A variation of a firm’sPart 4A permission may mean that it becomes an SMCR firm or that it changes from one type of SMCR firm to another22. This would have a number of significant consequences, which include: (1) the application of the special powers in relation to misconduct by approved persons (see DEPP 6.2.9-AG);(2) the approved persons regime switches from SUP 10A to SUP 10C;(3) COCON applies in place of APER; and22(4) the other elements of the regime for SMCR firms described
A firm with Part 4A permission24 to carry on insurance business, which is applying for a variation of its Part 4A permission24 to add further insurance activities or specified investments, will be required to submit particular information on its existing activities as part of its application. This includes the scheme of operations which is required to be submitted as part of the application pack (for further details on the scheme of operations, see SUP App 2 (Insurers: scheme
The application for variation of Part 4A permission24 will need to provide information about the classes of contract of insurance for which variation of Part 4A permission24 is requested and also those classes qualifying to be carried on, on an ancillary or supplementary basis. For example, an insurer applying to vary its permission to include class 10 (motor vehicle liability, other than carrier's liability) must satisfy the FCA24 that it will meet, and continue to meet, threshold
(1) Subject to (1A), a17firm other than a credit union wishing to make an application under SUP 6 must apply online using the forms specified on the online notification and application system21. 1417242424181814(1A) A firm wishing to make an application under SUP 6 which covers only credit-related regulated activities must submit any form, notice or application by using the form in SUP 6 Annex 5 and submitting it in the way set out in SUP 15.7.4 R to SUP 15.7.9 G (Form and method
(1) Section 55(U)(2)24 of the Act (Applications under this Part) requires that the application for variation of Part 4A permission24 must contain a statement:2424(a) of the desired variation; and(b) of the regulated activity or regulated activities which the firm proposes to carry on if its permission is varied.(1A) Section 55(U)(3) of the Act requires that an application for variation of a requirement imposed under section 55L or 55M or the imposition of a new requirement must
(1) [deleted]7(2) A firm is advised to discuss its application with the relevant regulator24 before submission, particularly if it is seeking a variation of Part 4A permission or imposition, variation or cancellation of a requirement24 within a short timescale. A firm is also advised to include as much detail as possible (including any additional information identified by its supervisors at this stage) with its application.72424
The relevant regulator,24 as soon as possible after receipt of an application, will advise the firm of any additional information which is required as part of its application (see SUP 6.3.23 G to SUP 6.3.27 G). The amount of information required24 will vary depending on the scale of the variation in the context of the firm as a whole, and the nature, risk profile and complexity of the variation.2424
In certain cases, the relevant regulator may consider that granting an application for imposition, variation or cancellation of any requirement or for variation of Part 4A permission24 which includes adding further regulated activities or changing a limitation would cause a significant change in the firm's business or risk profile. In these circumstances, the relevant regulator24 may require the firm to complete appropriate parts of the full application pack (see the relevant
A firm that wishes to make a significant change to its business, or is unsure whether the changes it is proposing would be considered to be significant, should contact the relevant regulator. The relevant regulator24 will discuss with the firm whether it will be required to submit parts of the application pack and whether any reports from third parties may be required.124
(1) The relevant regulator24 may ask for any information it reasonably requires before determining the application. The information required will be determined on a case by case basis, taking into account the relevant regulator's24 existing knowledge of the firm and the change24 requested. The relevant regulator24 will advise the firm of the information required at an early stage in the application process.242424(2) The nature of the information and documents requested will be
When determining whether to grant an application, the relevant regulator24 may request further information, including reports from third parties such as the firm's auditors, and may require meetings with, and visits to, the firm. The relevant regulator24 may also require a statement from members of the firm's governing body confirming, to the best of their knowledge, the completeness and accuracy of the information supplied. The relevant regulator24 may also discuss the application
(1) The relevant regulator24 is required by section 55B(3) of the Act to ensure that a firm applying to gain or vary a Part 4A permission or to impose or vary a requirement24 satisfies and will continue to satisfy the threshold conditions in relation to all the regulated activities for which the firm has or will have a Part 4A permission.2424241524(2) [deleted]24151524
(1) 24The FCA's duty under section 55B(3) of the Act does not prevent it, having regard to that duty, from taking such steps as it considers necessary in relation to a particular firm, to meet any of its operational objectives. This may include granting or consenting to (as the case may be) a firm's application for variation of Part 4A permission when it wishes to wind down (run off) its business activities and cease to carry on new business as a result of no longer being able
In considering whether to grant (or consent to, as the case may be)24 a firm's application to vary its Part 4A permission or impose or vary a requirement, the regulator concerned will also have regard, under section 55R(1)24 of the Act (Persons connected with an applicant), to any person6 appearing to be, or likely to be, in a relationship with the firm which is relevant. The Financial Groups Directive Regulations make special consultation provisions where the regulator is exercising
If the relevant regulator24 receives an application which is incomplete (that is, if information or a document required as part of the application is not provided), section 55V(2)24 of the Act requires the relevant regulator24 to determine that incomplete application within 12 months of the initial receipt of the application.242424
A decision to grant an application will be taken by appropriately experienced staff at the relevant regulator.24 However, if the staff dealing with the application recommend that a firm's application for variation of Part 4A permission24 be either refused or granted subject to limitations or requirements or a narrower description of regulated activities than applied for, the decision will be subject to the regulator's formal decision making process.242424242424
In accordance with section 60 of the Act (Applications for approval), applications must be submitted by, or on behalf of, the firm itself, not by:(1) the FCA candidate; or(2) (where the FCA candidate works for the firm'sparent undertaking or holding company) by the firm'sparent undertaking or holding company.
A firm to which SYSC 25.9 (Handover procedures and material) applies6 should include in an application a reasonable summary of:(1) any handover certificate; and(2) any other handover material;referred to in SYSC 25.96 that relates to the responsibilities that the candidate is to perform.
(1) 6This rule applies to an application by a firm for the FCA’s approval under section 59 of the Act (Approval for particular arrangements) for the performance of an FCA-designated senior management function.(2) 6A firm must (as part of its assessment of whether a candidate is a fit and proper person to perform an FCA-designated senior management function and to verify the information contained in the application to carry out the FCA-designated senior management function) obtain
The FCA will deal with cases more quickly than this whenever circumstances allow and will try to meet the standard response times published on the website and in its Annual Report. However, the processing time will be longer than the published standard response times if:(1) an application is incomplete when received; or(2) the FCA has knowledge that, or reason to believe that, the information is incomplete.
Before making a decision to grant the application or give a warning notice, the FCA may ask the firm for more information about the FCAcandidate. If it does this, the three-month period in which the FCA must determine a completed application:(1) will stop on the day the FCA requests the information; and(2) will start running again on the day on which the FCA finally receives all the requested information.
The FCA may grant an application only if it is satisfied that the FCA candidate is a fit and proper person to perform the FCA-designated senior management function stated in the application form. Responsibility lies with the firm making the application to satisfy the FCA that the FCA candidate is fit and proper to perform the FCA-designated senior management function applied for.
(1) In accordance with section 60 of the Act (Applications for approval), applications must be submitted by, or on behalf of, the firm itself, not by:(a) the FCAcandidate; or(b) (where the FCAcandidate works for the firm'sparent undertaking or holding company) by the firm'sparent undertaking or holding company.(2) Usually this will be the firm that is employing the FCAcandidate to perform the FCA controlled function. Where a firm has outsourced the performance of an FCA controlled
In any case where the application for approval is made by a person applying for permission under Part 4A of the Act, the FCA has until the end of whichever of the following periods ends last: (1) the period within which an application for that permission must be determined; and(2) the period of three months from the time it receives a properly completed application.
The FCA must either grant the application or, if it proposes not to grant an application, issue a warning notice (see DEPP 2). The FCA will deal with cases more quickly than this whenever circumstances allow and will try to meet the standard response times published on the website and in its Annual Report. However, if an application is incomplete when received, or the FCA has knowledge that, or reason to believe that, the information is incomplete, then the processing time will
Application forms must always be completed fully and honestly. Further notes on how to complete the form are contained in each form. If forms are not completed fully and honestly, applications will be subject to investigation and the FCAcandidate's suitability to be approved to undertake an FCA controlled function will be called into question. A person who provides information to the FCA that is false or misleading may commit a criminal offence, and could face prosecution under
Before making a decision to grant the application or give a warning notice, the FCA may ask the firm for more information about the FCA candidate. If it does this, the three-month period in which the FCA must determine a completed application:(1) will stop on the day the FCA requests the information; and(2) will start running again on the day on which the FCA finally receives all the requested information.
The FCA may grant an application only if it is satisfied that the FCA candidate is a fit and proper person to perform the FCA controlled function stated in the application form. Responsibility lies with the firm making the application to satisfy the FCA that the FCA candidate is fit and proper to perform the FCA controlled function applied for.
An applicant for recognised body status needs to demonstrate to the FCA5 that it is able to meet the recognised body requirements31before a recognition order can be made. Once it has been recognised, a recognised body has to comply with the recognised body requirements31at all times. (Guidance on the recognised body requirements3 applicable to UK recognised bodies (and applicants) is given in REC 2 and REC 2A).35333
(1) There is no standard application form. A prospective applicant should contact the Markets Division at the FCA5 at an early stage for advice on the preparation, scheduling and practical aspects of its application.5(2) It is very important, if an application is to be processed smoothly and in a reasonable time, that it is comprehensively prepared and based on a well-developed and clear proposal.
An application should:(1) be made in accordance with any directions the FCA5 may make under section 287 (Application by an investment exchange) of the Act or (for RAPs) regulation 2 of the RAP regulations;353355(2) in the case of an application under section5 287 of the Act, 3be accompanied by the applicant's regulatory provisions and in the case of an application under section 287 of the Act information required pursuant to sub-sections 287(3)(c), (d) and (e) of the Act (see
Under section 289 of the Act (Applications: supplementary) or (for an RAP applicant) regulation 2 of the RAP regulations,3 the FCA5 may require the applicant to provide additional information, and may require the applicant to verify any information in any manner. In view of their likely importance for any application, the FCA5 will normally wish to arrange for its own inspection of an applicant's information technology systems.55
1In the case of an application to become a UK RIE or an RAP3, under subsection 290(1B) of the Act and (for an RAP applicant) regulation 2(8) of the RAP regulations3, the application must be determined by the FCA5 before the end of the period of six months beginning with the date on which it receives the completed application.5
(1) The FCA5 will keep the applicant informed of the progress of the application.5(2) It may be necessary to ask the applicant to clarify or amplify some aspects of its proposals. The FCA5 may wish to discuss various aspects of the application and may invite the applicant to attend one or more meetings for that purpose. When requested to do so, the FCA5 will explain the nature of the information which it has asked an applicant to supply in connection with its application.55
Where the FCA5 considers that it is unlikely to make a recognition order it will discuss its concerns with the applicant as early as possible with a view to enabling the applicant to make changes to its rules or guidance, or other parts of the application (see REC 5.2.7 G). If the FCA5 decides that it will not make a recognition order, it will follow the procedure set out in section 298 of the Act (Directions and revocation: procedure) or (in the case of an RAP) regulation 5 of
Information and supporting documentation (see REC 5.2.4 G).(1)Details of the applicant's constitution, structure and ownership, including its memorandum and articles of association (or similar or analogous documents ) and any agreements between the applicant, its owners or other persons relating to its constitution or governance (if not contained in the information listed in REC 5.2.3A G)1. An applicant for RAP status must provide details of the relationship between the governance
(1) 58The PRA’s7 preferred method of submission for waiver applications is by e-mail.8 The FCA’s preferred method of submission for waiver applications is through online submission via the FCA’s website at www.fca.org.uk.75(2) The form is available on the appropriate regulator's website.8558
The appropriate regulator8 will acknowledge an application promptly and if necessary will seek further information from the firm. The time taken to determine an application will depend on the issues it raises. A firm should make it clear in the application if it needs a decision within a specific time.86
The appropriate regulator8 will treat a firm's application for a waiver as withdrawn if it does not hear from the firm within 20 business days of sending a communication which requests or requires a response from the firm. The appropriate regulator8 will not do this if the firm has made it clear to the appropriate regulator8 in some other way that it intends to pursue the application. 3888
For an application for a waiver of the presumption of contravention of a binding rule, which is actionable under section 138D8 of the Act, the appropriate regulator8 would normally wish to be satisfied that the evidential rule is itself unduly burdensome or does not achieve the purpose of the rule.288
In the case of an application for a waiver of a two-way evidential provision relating to an actionable binding rule, the policy in SUP 8.3.12 G would apply to the presumption of compliance and the policy in SUP 8.3.13 G would apply to the presumption of contravention. In other words, any modification is likely to be in relation to the second presumption only.2
Before making a decision to grant the application or give a warning notice, the FCA may ask the firm for more information. If it does this, the three-month period in which the FCA must determine a completed application:(1) will stop on the day the FCA requests the information; and(2) will start running again on the day on which the FCA finally receives all the requested information.
Under section 61(5) of the Act (Determination of applications), as applied by section 63ZA(8) of the Act (Variation of senior manager’s approval at request of 2authorised person), the firm may withdraw an application only if it also has the consent of:(1) the approved person; and(2) the person by whom the approved person is employed if this is not the firm making the application.
The FCA will acknowledge an application promptly and, if necessary, will seek further information from the firm. The time taken to determine an application will depend on the issues it raises. A firm should make it clear in the application if it needs a decision within a specific time.1
The FCA will treat a firm's application as withdrawn if it does not hear from the firm within 20 business days of sending a communication which requests or requires a response from the firm. The FCA will not do this if the firm has made it clear to the FCA in some other way that it intends to pursue the application.
(1) An application should be made by the proprietor of the relevant publication or service using the appropriate form, accessible from our website (see Forms/ Perimeter Guidance manual forms). The form asks for general information about the applicant and gives guidance notes on completion and other details of how the FCA can help.(2) An applicant will be asked to state his own view of the principal purpose of the publication or service. This should include an explanation why the
The Act does not specify a time limit for processing the application but the FCA intends to deal with an application as quickly as possible. The more complete and relevant the information provided by an applicant, the more quickly a decision can be expected. But on occasion it may be necessary to allow time in which the FCA can monitor the content of the service. This might happen where, for example, a service is in a form that makes record keeping difficult (such as a large website
If the FCA decides to grant the application it will issue a certificate. The certificate will normally be granted for an indefinite period. It will state what it is that the FCA considers constitutes the periodical or service in relation to which the FCA is satisfied that the exclusion in article 54 of the Regulated Activities Order applies. In many cases this will be self-evident. But it may sometimes be necessary to include further details in the certificate indicating what
The appropriate regulator anticipates that an application to modify the overall liquidity adequacy rule may be accompanied by an application to waive or modify other rules in BIPRU 12 (for example, the stress testing and contingency funding planrules in BIPRU 12.4). The appropriate regulator offers some guidance in this section on applications of this type.
BIPRU 12.8.14 G to BIPRU 12.8.20 G set out the appropriate regulator's likely approach in considering an application for an intra-group liquidity modification in which a firm seeks to rely on support from a parent undertaking which is constituted under the law of a country or territory outside the United Kingdom.
The appropriate regulator may also consider an application for an intra-group liquidity modification where a firm wishes to rely on liquidity resources from an entity in its group other than an overseasparent undertaking. The appropriate regulator recognises that a firm incorporated in the United Kingdom and to which BIPRU 12 applies may wish to rely on liquidity support from another such firm. In practice, the appropriate regulator anticipates that a firm applying for an intra-group
The appropriate regulator also recognises that a firm incorporated in the United Kingdom and to which BIPRU 12 applies may wish to rely on liquidity support from a subsidiary undertaking of that firm which is incorporated in a country or territory outside the United Kingdom. The appropriate regulator is, however, likely to consider that an application for an intra-group liquidity modification that contemplates reliance for liquidity support on only, or mostly, an applicant firm's
In each application for an intra-group liquidity modification, the appropriate regulator will consider the extent to which it is appropriate to modify the overall liquidity adequacy rule to allow reliance by an applicant firm on liquidity resources elsewhere in a firm'sgroup. However, it is unlikely that the appropriate regulator would consider the conditions in section 138A of the Act to be met in circumstances in which the overall liquidity adequacy rule was modified to allow
It will not always be the case that an applicant firm wishes to rely on a parent undertaking, or other group entity, that is itself subject to a regime of liquidity regulation, whether or not equivalent to the appropriate regulator's. In assessing a firm's application for an intra-group liquidity modification, the appropriate regulator will always have regard to the regulatory framework to which the entity on which it is proposed to rely for liquidity support is subject. Other
In determining the appropriate duration of a whole-firm liquidity modification, the appropriate regulator will have regard to the role and importance of the UKbranch in question in the UK1financial system. In some cases, the appropriate regulator may take the view that a whole-firm liquidity modification, covering a UKbranch whose role and importance in the UK1financial system are significant, ought to be reviewed more regularly than one granted in respect of a less systemically
In respect of the application for waivers to apply the approaches set out in BIPRU 1.3.2 G (1), the appropriate regulator will aim to give decisions on applications as soon as practicable. However, the appropriate regulator expects that it will take a significant period to determine and give a decision due to the complexity of the issues raised by the applications. Details of timelines for applications for waivers to use advanced approaches and under the Article 129 procedure
Before sending in an application for a waiver or Article 129 permission, a firm may find it helpful to discuss the application with its usual supervisory contact at the appropriate regulator. However, the firm should still ensure that all relevant information is included in the application.
There is no application form, but applicants should make their application formally and in writing and in accordance with any direction the FCA1 may make under section 294(2) of the Act. Each application should set out at least:1(1) full particulars of the waiver which is requested; (2) the reason why the recognised body believes that the criteria set out in section 294(4) (and described in REC 3.3.3 G) would be met, if this waiver were granted; and (3) where the recognised body
Where the FCA1 considers that it will not give the waiver which has been applied for, the FCA1 will give reasons to the applicant for its decision. The FCA1 will endeavour, where practicable, to inform an applicant in advance where it seems that an application is likely to fail unless it is amended or expanded, so that the applicant will have the opportunity to make any necessary amendments or additions before the application is considered.111
(1) This section is about the FCA's requirements for statements of responsibilities.(2) However, in the case of a PRA-authorised person,6 where applications and notifications relate both to FCA-designated senior management functions and to PRA ones, the regulators’ requirements are consistent with each other.(3) The general material in this section (SUP 10C.11.13D5 to SUP 10C.11.35G) applies to statements of responsibilities submitted in all the cases covered by this section.
Under section 62A of the Act, a firm must provide the FCA with a revised statement of responsibilities if there has been any significant change in the responsibilities of an FCA-approved SMF manager. More precisely:(1) if a firm has made an application (which was granted) to the FCA for approval for a person to perform an FCA-designated senior management function; (2) the application contained, or was accompanied by, a statement of responsibilities; and(3) since the granting of
(1) See SUP 10C.13 (Variation of conditional and time-limited approvals) for more details about applications to vary an approval.(2) SUP 10C.15 (Forms and other documents and how to submit them to the FCA) explains how applications to vary an approval should be submitted.(3) See the table in SUP 10C.11.19G for examples of how the requirements of this section about submitting statements of responsibilities with applications to vary an approval apply in different situations.
Table: Examples5 of how the requirements for submitting statements of responsibilities work1ExampleComments(1) A firm applies for approval for A to perform the executive director function5 and the money laundering reporting function5.There should be a single statement of responsibilities document that covers the two functions.The combined document should be included with the application for approval.(2) Firm X applies for approval for A to perform the executive director function5.
1Where a person intends to rely on article 4(2), 10(2) or 89(2) of EMIR for an exemption from the clearing obligation set out in article 4(1) or 10(1) of EMIR, the person should make their application or notification to the FCA in such manner, and by providing such information, as the FCA directs or requires.
Where a person intends to rely on article 11(6), (7), (8), 9) or (10) for an exemption from the obligation to implement risk management procedures set out in article 11(3) of EMIR, the person should make their application or notification to the FCA in accordance with EMIR requirements, including (where relevant) those set out in the EMIR technical standards on OTC derivatives2.
At any time after receiving an application or notification for exemption from, or a notification in respect of, EMIR requirements, the FCA may require the person concerned to provide it with such further information as it reasonably considers necessary to enable it to determine the application or consider the notification.
15The fees for funds8 reflect the estimated costs to the FCA of assessing applications and notifications. The level of fees payable in respect of an application or a notification will vary depending upon the provision of the Act under which it is made. This fee is adjusted when the scheme concerned is an umbrella.8
Applications for Part 4A permission (and exercises of Treaty rights) other than in respect of credit-related regulated activities7 are categorised by the 9FCA for the purpose of fee raising as straightforward, moderately complex and complex7 as identified in FEES 3 Annex 1. This differentiation is based on the permitted activities sought and does not reflect the 9FCA's risk assessment of the applicant (or Treaty firm).979
(1) 12Application fees for authorisation under regulation 7 of the DRS Regulations, and for operators of trading venues seeking verification of their compliance with Title V of MiFID14 under regulation 8 of the DRS Regulations and for variation of an authorisation under regulation 12 of the DRS Regulations are set out in the table at FEES 3.2.7R.(2) The fee depends on the number of data reporting services for which the firm is making an application.
6FCA staff under executive procedures will take the decision where the FCA is proposing or deciding to:(1) refuse its consent to the granting by the PRA of an application for a Part 4A permission, or give its consent subject to conditions; (2) refuse its consent to the granting by the PRA of an application for the variation of a Part 4A permission, or give its consent subject to conditions; or(3) refuse its consent to the granting by the PRA of an application to perform a controlled
6If the FCA is proposing or deciding to refuse a sponsor's application for the withdrawal or variation of a limitation or other restriction on the services to which a sponsor's approval relates under section 88(8)(d) of the Act, the decision maker will be FCA staff under executive procedures where FCA staff decided to impose the limitation or other restriction. Otherwise, the RDC will take the decision to give the warning notice and decision notice.
Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) [deleted]66(2) [deleted]66(3) Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by
Applicants for authorised person status should refer to the FCA3 website “Authorisation”: www.fca.org.uk/firms/authorisation1. Applications for recognition as an overseas recognised body should be addressed to:The Financial Conduct Authority3 (Infrastructure and Trading Firms Department)412 Endeavour Square5London, E20 1JN5133
There is no standard application form for application for recognition as an ROIE2. An application should be made in accordance with any direction the FCA3 may make under section 287 (Application by an investment exchange) of the Act and should include:333(1) the information, evidence and explanatory material necessary to demonstrate to the FCA3 that the recognition requirements (set out in REC 6.3) will be met;(2) the application fee (see REC 7);(3) the address of the applicant's
The FCA3 may require further information from the applicant and may need to have discussions with the appropriate authorities in the applicant's home territory. To allow sufficient time for applications to be processed and for the necessary contacts to be made with the appropriate home territory authorities, applications should be made not later than six months before the applicant wishes the recognition order to take effect. No guarantee can be given that a decision will be reached
4A firm that makes an application to the FCA for a waiver in accordance with articles 4 or 9 of MiFIR (in relation to pre-trade transparency for equity or non-equity instruments) must make it in the form set out in MAR 5 Annex 1D. [Note: articles 4 and 9 of MiFIR, MiFID RTS 1 and MiFID RTS 2]
4A firm should have regard to the urgency and significance of a matter and, if appropriate, should also notify its usual supervisory contact at the FCA by telephone or by other prompt means of communication, before submitting a written application. Oral notifications should be given directly to the firm’s usual supervisory contact at the FCA. An oral notification left with another person or on a voicemail or other automatic messaging service is unlikely to have been given appropriately.
The appropriate authority1 has discretion under section 89 of the Friendly Societies Act 1992 to modify some of the requirements for a transfer of engagements from a friendly society, on the application of a specified number of its members, if it is satisfied that it is expedient to do so in the interests of its members or potential members.1
Under the Friendly Societies Act 1992:(1) when the members of a transferor society have approved the transfer of its engagements by passing a special resolution and the transferee has approved the transfer (by passing a resolution where the transferee is a friendly society); or(2) when two or more societies have approved a proposed amalgamation by passing a special resolution;it, or they jointly, must then obtain confirmation by the appropriate authority1 of the transfer. Notice
For a directive friendly society, if the transfer or amalgamation includes policies where the state of the risk or the state of the commitment is an EEA State other than the United Kingdom, consultation with the Host State regulator is required and SUP 18.2.25 G to SUP 18.2.29 G apply (for an amalgamation they apply as if the business of the amalgamating societies is to be transferred to the successor society). Paragraph 6(1) of Schedule 15 to the Friendly Societies Act 1992 requires
If authorisation or a Part 4A permission1 is needed, the appropriate authority1 will need to consider the application for authorisation or permission in the usual way. If the authorisation or permission is refused, confirmation cannot be given even if all the other criteria are met.111
The appropriate authority1 may (as an alternative to refusing confirmation) direct the society or societies to remedy certain procedural defects in a proposed transfer or amalgamation, and after they have been remedied confirm the application. If it appears to the appropriate authority1 that failure to meet a "relevant requirement" of the Friendly Societies Act 1992 or the rules of the friendly society could not be material to the members' decision, then it may direct that this