[Part 1E Part 4A Permission: Conditions for Which the PRA is Responsible in Relation to Other PRA-authorised Persons]

[5A

Introduction

If the person concerned (“D”) carries on, or is seeking to carry on, PRA-regulated activities which do not consist of or include a regulated activity relating to—

(a)     the effecting or carrying out of contracts of insurance,

(b)     managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyds, . . .

(c)     arranging, by the Society, of deals in contracts of insurance written at Lloyd's, [or]

[(d)     an assumption of risk falling within article 13A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001,]

the threshold conditions which are relevant to the discharge by the PRA of its functions in relation to D are the conditions set out in paragraphs 5B to 5F.

5B

Legal status

If D carries on or is seeking to carry on a regulated activity which consists of or includes accepting deposits or issuing electronic money, D must be—

(a)     a body corporate, or

(b)     a partnership.

5C

Location of offices

(1)     If D is a body corporate incorporated in the United Kingdom—

(a)     D's head office, and

(b)     if D has a registered office, that office,

must be in the United Kingdom.

(2)     If D is not a body corporate but D's head office is in the United Kingdom, D must carry on business in the United Kingdom.

5D

Business to be conducted in a p

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