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Version date: 30 January 2024 - onwards
  Version 12 of 12    

39. Exemption of appointed representatives

(1) If a person (other than an authorised person) -

(a) is a party to a contract with an authorised person ("his principal") which -

(i) permits or requires him to carry on business of a prescribed description, and

(ii) complies with such requirements as may be prescribed, and

(b) is someone for whose activities in carrying on the whole or part of that business his principal has accepted responsibility in writing,

he is exempt from the general prohibition in relation to any regulated activity comprised in the carrying on of that business for which his principal has accepted responsibility.

(1ZA) This subsection applies to a person if subsection (1A), (1AA) or (1BA) applies to the person.

(1A) This subsection applies to a person -

(a) if his principal is an investment firm, a qualifying credit institution, or a firm which has a Part 4A permission to carry on regulated activities as an exempt investment firm within the meaning of regulation 8 of the Financial Services and Markets Act 200

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