(1) A function is a pre-approval controlled function in relation to a regulated financial service provider if -
(a) it is prescribed as such in regulations made pursuant to subsection (2), or
(b) it has been declared by the Bank to be a pre-approval controlled function by written notice pursuant to subsection (8).
(1A) A function is a pre-approval controlled function in relation to a holding company if it is prescribed as such in regulations made pursuant to subsection (2A).
(2) The Bank may by regulations prescribe a function that is a controlled function in relation to a regulated financial service provider as a pre-approval controlled function in relation to a regulated financial service provider, if the function is one by which a person may exercise a significant influence on the conduct of a regulated financial service provider's affairs.
(2A) The Bank may by regulations prescribe a function that is a controlled function in relation to a holding company as a pre-approval controlle
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