8
Transitional Arrangements for New Senior Insurance Management Functions
8.1
This Chapter applies only before the commencement date.
- 19/08/2015
8.2
Where an approved person or a candidate is intended to perform a senior insurance management function with effect from the commencement date but:
- (1) in the case of an approved person, is not prior to the commencement date approved; or
- (2) in the case of a candidate, is not to be approved
to perform a controlled function that is equivalent to the proposed senior insurance management function in accordance with 6, the PRA directs that the firm must not submit a grandfathering notification in respect of that approved person or candidate (as the case may be) but must instead submit a senior insurance management approval application for the proposed senior insurance management function in accordance with Key Function Holder – Notifications 6.4.
- 01/10/2015