Member

76: Clause 33, page 38, line 28, at end insert— “(2A) In section 61 (determination of applications), in subsection (3ZA)—(a) the words from “granting it” to the end become paragraph (a);(b) after that paragraph insert“, or(b) in the case of a permitted conditional application (as defined in section 60A(5)), granting it subject only to conditions, or for a limited period, requested in the application (or both).””Member’s explanatory statement This amendment would keep section 61 of the Financial Services and Markets Act 2000 in step with other amendments to Part 5 of that Act, which treat a decision to grant an application on the terms requested like an approval of the application.