• Category 1

    • PRU 1.3.1 PRU 1.3.1

      An Authorised Person is in Category 1 if:

      (a) its Financial Services Permission authorises it to carry on one or more of the Regulated Activities of Accepting Deposits or Managing a Profit Sharing Investment Account which is a PSIAu; and
      (b) it does not meet the criteria of Category 5.

      • Guidance

        A Category 1 Authorised Person may be authorised to conduct other Regulated Activities, but it is the authorisation for Accepting Deposits or Managing a Profit Sharing Investment Account which is a PSIAu that is determinative of its belonging to Category 1.