SCHEDULE 8Investors in licensed providers

1Initial notification requirements

1

An applicant for a licence (issuable in accordance with an approved regulator’s licensing rules) must give the approved regulator the standard information about non-solicitor investors when applying for the licence.

2

The applicant must also—

a

give (as soon as practicable) the approved regulator any standard information subsequently coming to light,

b

notify (as soon as practicable) the approved regulator of any other change in the standard information.

3

The standard information is—

a

the name and other details of—

i

every non-solicitor investor in the applicant,

ii

any other person whom the applicant expects to be a non-solicitor investor in the applicant at such time as the licence may be issued,

b

in each case, a description of the nature of the person’s interest.