Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 June 2022 - onwards
    Version 1 of 1    

31H. Assessment of suitability of shareholders and members (Class 1 firms)

(1) The criteria referred to in section 31G(4) are as follows:

(a) the reputation of the shareholders or members of the applicant;

(b) the reputation, knowledge, skills and experience, as specified in Regulation 79 of the European Union (Capital Requirements) Regulations 2014, of any member of the management body who will direct the business of the shareholders or members of the applicant;

(c) the financial soundness of the applicant, in particular in relation to the type of business pursued and envisaged by the credit institution;

(d) whether the applicant will be able to comply and continue to comply with the prudential requirements of the European Union (Capital Requirements) Regulations 2014 and the Capital Requirements Regulation, and where applicable, other European Union law, in particular Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 [OJ No. L. 35, 11.2.2003, p. 1.] and Directive 2009/110/EC of the European Parliament and of the Council

Comparing proposed amendment...