AU-5.1.7
Past version: Effective up to 30 Jun 2007
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As part of Phase 2 of the licensing application process, unless otherwise directed by the BMA, the following documents and information must be provided:
(a) a duly completed Form 3 (Application for Approved Person status), for each individual (other than for Directors, submitted as part of Phase 1) applying to undertake controlled functions in the applicant;
(b) a draft copy of the applicant's memorandum and articles of association (or of its parent in the case of branch applications) addressing the matters described in AU-5.1.8;
(c) a letter of guarantee from the applicant's major shareholder, confirming its willingness to support the proposed licensee in case of need; and
(d) in the case of branch applicants, a letter of guarantee from the applicant's head office, confirming responsibility for all of the liabilities of the proposed branch, together with evidence of the power to give such a guarantee.