(1) The FCA must register a protected cell company where all of the following conditions are satisfied -

(a) the application for registration satisfies the requirements of regulation 14;

(b) the registered office of the protected cell company is situated in the United Kingdom;

(c) the name of the protected cell company is not prohibited by regulation 17;

(d) the protected cell company's instrument of incorporation satisfies the requirements of regulation 19;

(e) the protected cell company will have at least one director;

(f) there is at least one person who will, on registration, hold voting shares in the core of the protected cell company;

(g) the PRA has notified the FCA that the PRA will, if the FCA registers the proposed protected cell company, give the protected cell company permission under section 55F of FSMA to carry out the regulated activity referred to in Article 13A of the Regulated Activities Order; and