s 309G Requirement for approval
(1) A relevant recognised body must take reasonable care to ensure that a person does not perform a designated senior management function in relation to the carrying on of an activity by the body, unless the person is acting in accordance with an approval given by the appropriate regulator under this section. (2) Subsection (1) applies only in relation to a function performed under— (a) an arrangement entered into by the relevant recognised body, or (b) an arrangement entered into by a contractor of the relevant recognised body. (3) “ Designated senior management function ” means a function of a description specified in rules made by the appropriate regulator. (4) The appropriate regulator may specify a description of function under subsection (3) only if it is satisfied that the function is a senior management function. (5) A function is a “ senior management function ” in relation to the carrying on of a relevant recognised body’s activities if— (a) the function will require the person performing it to be responsible for managing one or more aspects of the body’s affairs, and (b) those aspects involve, or might involve, a risk of serious consequences— (i) for the body, or (ii) for business or other interests in the United Kingdom. (6) In subsection (5)(a) , the reference to managing one or more aspects of a relevant recognised body’s affairs includes a reference to taking decisions, or participating in the taking of decisions, about how one or more aspects of those affairs should be carried on. (7) In subsection (2) , “arrangement”— (a) means any kind of arrangement for the performance of a function of a relevant recognised body which is entered into by the body, or by a contractor of the body, and another person, and (b) includes, in particular, an arrangement under which the other person is appointed to an office, becomes a partner or is employed (whether under a contract of service or otherwise).