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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 December 2023 - onwards
  Version 3 of 3    

21. Application of standards of fitness and probity.

(1) A regulated financial service provider shall not permit a person to perform a controlled function in relation to it unless a certificate of compliance with standards of fitness and probity, given by the regulated financial service provider in accordance with this section, is in force in relation to the person.

(2) A holding company shall not permit a person to perform a controlled function in relation to it unless a certificate of compliance with standards of fitness and probity, given by the holding company in accordance with this section, is in force in relation to the person.

(3) A certificate may be given for the purposes of subsection (1) or (2) only if -

(a) the regulated financial service provider or holding company giving the certificate is satisfied on reasonable grounds that the person concerned complies with any standard of fitness and probity in a code issued under section 50, and

(b) the person has agreed in writing to comply with any such standard.

(4) A regulated fin

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