(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
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