Regulation 54

Sections 104, 104A and 105 of the Act, Divisions 1, 3 and 4 of Part III of these Regulations and regulations 13(b)(ix), 39(1)(da), (e) and (k), (2)(ba), (bb), (bc), (c) and (d), (3), (4) and (5), 40, 42, 44, 45, 46, 46AA, 46AB, 46AC, 46AD, 47 and 47B to 47E shall, with the necessary modifications, apply to each of the following exempt persons in respect of its business in any regulated activity as those provisions apply to the holder of a capital markets services licence and, where applicable, shall, with the necessary modifications, apply to a representative of any of these exempt persons when acting as such as those provisions apply to the representative of the holder of a capital markets services licence:

Despite paragraph (1) and regulation 64(1) of the Securities and Futures (Licensing and Conduct of Business) (Amendment No. 2) Regulations 2018, regulations 29 and 37 as in force immediately before 8 October 2018 continue to apply to the following persons until 8 October 2021:

Where any regulation referred to in paragraph (1) or (2) or part of it conflicts with any requirement under the Banking Act 1970 or the Finance Companies Act 1967, the latter shall prevail.