(1) The following persons are authorised for the purposes of this Act—
(a) a person who has a [Part 4A permission] to carry on one or more regulated activities;
(b) an EEA firm qualifying for authorisation under Schedule 3;
(c) a Treaty firm qualifying for authorisation under Schedule 4;
(d) a person who is otherwise authorised by a provision of, or made under, this Act.
(2) In this Act “authorised person” means a person who is authorised for the purposes of this Act.
(1) If a firm is authorised—
(a) it is authorised to carry on the regulated activities concerned in the name of the firm; and
(b) its authorisation is not affected by any change in its membership.
(2) If an authorised firm is dissolved, its authorisation continues to have effect in relation to any [individual or] firm which succeeds to the business of the dissolved firm.
[(3) For the purposes of this section, an individual or firm is to be regarded as succeeding to the business of a dissolved firm only if succession is to the whole or substantially the whole of the business of the former firm.]
(4) “Firm” means—
(a) a partnership; or
(b) an unincorporated association of persons.
(5) “Partnership” does not include a partnership which is constituted under the law of any place outside the United Kingdom and is a body corporate.
(1) This section applies if—
(a) an authorised person's [Part 4A permission] is cancelled; and
(b) as a result, there is no regulated activity for which he has permission.
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