The Financial Services and Markets Act 2000 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024
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Change 1
3 Applications for permission not to apply rules or to apply rules with modifications
(1) This regulation applies to an application made by any person to the PRA under section 138BA(2) of FSMA 2000— (a) for permission not to apply rules specified in regulation 2 (“specified rules”) or to apply specified rules with modifications, or (b) to vary an existing permission. (2) The application must set out— (a) the rules which the applicant seeks permission not to apply, (b) the modifications of rules sought, or (c) the variation sought. (3) An application must— (a) be made in such manner as the PRA may direct, and (b) contain, or be accompanied by, such other information or documents as the PRA may reasonably require. (4) At any time after receiving the application and before determining it, the PRA may require the applicant to provide it with such further information or documents as it may reasonably require. (5) The PRA may require any information provided under this regulation to be provided in such form and verified in such manner as it may reasonably require. (6) The PRA may require any documents provided under this regulation to be produced at such place and authenticated in such manner as it may reasonably require. (7) Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.
3 Applications for permission not to apply rules or to apply rules with modifications
(1) This regulation applies to an application made by any person to the PRA under section 138BA(2) of FSMA 2000— (a) for permission not to apply rules specified in regulation 2 (“specified rules”) or to apply specified rules with modifications, or (b) to vary an existing permission. (2) The application must set out— (a) the rules which the applicant seeks permission not to apply, (b) the modifications of rules sought, or (c) the variation sought. (3) An application must— (a) be made in such manner as the PRA may direct, and (b) contain, or be accompanied by, such other information or documents as the PRA may reasonably require. (4) At any time after receiving the application and before determining it, the PRA may require the applicant to provide it with such further information or documents as it may reasonably require. (5) The PRA may require any information provided under this regulation to be provided in such form and verified in such manner as it may reasonably require. (6) The PRA may require any documents provided under this regulation to be produced at such place and authenticated in such manner as it may reasonably require. (7) Different directions may be given, and different requirements imposed, in relation to different applications or categories of application.
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