Modifications etc. (not altering text)
C1Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))
C2Pt. 35 applied (with modifications) (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 3 para. 3; 2020 c. 1, Sch. 5 para. 1(1)
C3Pt. 35 modified (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 3 para. 5(b) (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 21(7)(a))
C4Pt. 35 modified (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (S.I. 2009/317), art. 6(1)(3)
C5Pt. 35 applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 27, Sch. 6 Pt. 2 para. 5(3)
C6Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Textual Amendments
F1Ss. 1098A-1098H and cross-heading inserted (26.10.2023 but only so far as it confers a power to make regulations or relates to the exercise of the power, otherwise prosp.) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 66(4), 219(1)(2)(b)
(1)A person may apply to the registrar to become an authorised corporate service provider for the purposes of this Act if—
(a)the person is a relevant person as defined by regulation 8(1) of the Money Laundering Regulations,
(b)in the case of an individual, their identity is verified (see section 1110A), and
(c)the person meets any other requirements imposed by regulations made by the Secretary of State for the purposes of this paragraph.
(2)An application under this section must contain—
(a)the name of the applicant’s supervisory authority or authorities for the purposes of the Money Laundering Regulations,
(b)the required information about the applicant (see section 1098C), and
(c)in the case of an application by an individual, a statement that the individual’s identity is verified (see section 1110A).
(See also section 1098D, which imposes restrictions on who may deliver an application under this section on behalf of a firm.)
(3)Where an application is made under this section, the registrar must check with the supervisory authority, or at least one of the supervisory authorities, specified in the application, to find out whether the applicant is known to and supervised by that authority.
(4)Having carried out that check, the registrar must grant the application if—
(a)the supervisory authority, or at least one of the supervisory authorities, specified in the application has confirmed that the applicant is known to and supervised by that authority,
(b)where the applicant is an individual, the registrar is satisfied that their identity is verified (see section 1110A),
(c)any other conditions that may be specified by regulations made by the Secretary of State for the purposes of this paragraph are met, and
(d)the registrar is not required by subsection (5) to refuse the application.
(5)The registrar must refuse the application if it appears to the registrar that the applicant is not a fit and proper person to carry out the functions of an authorised corporate service provider.
(6)The provision that can be made in regulations under subsection (4)(c) includes provision conferring a discretion on the registrar.
(7)Regulations under subsection (1)(c) or (4)(c) are subject to affirmative resolution procedure.
(8)For the purposes of this section—
“Money Laundering Regulations” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692);
“supervised”: a person is supervised by a supervisory authority if regulation 7(1) of the Money Laundering Regulations provides that it is a supervisory authority for that person;
“supervisory authority” means an authority that is a supervisory authority under the Money Laundering Regulations (see regulation 7 of those Regulations).]