(1) In section 31 (authorised persons), in subsection (1)(a), for "Part IV permission" substitute "Part 4A permission".
(2) For sections 40 to 55 of FSMA 2000 substitute -
"Part 4A Permission to carry on regulated activities
Application for permission
55A Application for permission
(1) An application for permission to carry on one or more regulated activities may be made to the appropriate regulator by -
(a) an individual,
(b) a body corporate,
(c) a partnership, or
(d) an unincorporated association.
(2) "The appropriate regulator", in relation to an application under this section, means -
(a) the PRA, in a case where -
(i) the regulated activities to which the application relates consist of or include a PRA-regulated activity, or
(ii) the applicant is a PRA-authorised person otherwise than by virtue of a Part 4A permission;
(b) the FCA, in any other case.
(3) An authorised person who has a permission under this Part which is in force may not apply for permission under this section
…