Sch 6 para 2D Appropriate resources
(1) The resources of A must be appropriate in relation to the regulated activities that A carries on or seeks to carry on. (2) The matters which are relevant in determining whether A has appropriate resources include— (a) the nature and scale of the business carried on, or to be carried on, by A; (b) the risks to the continuity of the services provided by, or to be provided by, A; (c) A’s membership of a group and any effect which that membership may have. (3) Except in a case within sub-paragraph (3A), the matters which are relevant in determining whether A has appropriate financial resources include— (a) the provision A makes and, if A is a member of a group, which other members of the group make, in respect of liabilities; (b) the means by which A manages and, if A is a member of a group, by which other members of the group manage, the incidence of risk in connection with A’s business. (3A) Where the only regulated activities that A carries on or seeks to carry on are— (a) relevant credit activities, and (b) if any, activities to which, by virtue of section 39(1D), sections 20(1) and (1A) and 23(1A) do not apply when carried on by A, A has adequate financial resources if A is capable of meeting A’s debts as they fall due. (4) The matters which are relevant in determining whether A has appropriate non-financial resources include— (a) the skills and experience of those who manage A’s affairs; (b) whether A’s non-financial resources are sufficient to enable A to comply with— (i) requirements imposed or likely to be imposed on A by the FCA in the exercise of its functions, or (ii) any other requirement in relation to whose contravention the FCA would be the appropriate regulator for the purpose of any provision of Part 14 of this Act.