(1) Section 60 of FSMA 2000 (applications for approval) is amended as follows.
(2) After subsection (2) insert -
"(2A) If -
(a) the application is for the approval of a person to perform a designated senior management function, and
(b) the authorised person concerned is a relevant authorised person (see section 71A),
the appropriate regulator must require the application to contain, or be accompanied by, a statement setting out the aspects of the affairs of the authorised person concerned which it is intended that the person will be responsible for managing in performing the function.
(2B) A statement provided under subsection (2A) is known as a "statement of responsibilities".
(2C) In subsection (2A) "designated senior management function" means a function designated as a senior management function under section 59(6A) or (6B)."
(3) [deleted]