GEN 5.2.2

(1) The Regulator will only consider an application for a Financial Services Permission from a Person who, subject to (2), (3) and (4), is:
(a) a Body Corporate; or
(b) a Partnership;
and who is not a Recognised Body.
(2) If the application is in respect of either or both of the following Regulated Activities:
(a) Effecting Contracts of Insurance; or
(b) Carrying Out Contracts of Insurance as Principal;
the applicant must be a Body Corporate.
(3) If the application is in respect of the Regulated Activity of Accepting Deposits, the applicant must be a Body Corporate or a Partnership.
(4) If the application is in respect of the Regulated Activity of Acting as the Trustee of an Investment Trust, the applicant must be a Body Corporate.