Sch 11 para 7
(1) The qualification must be restricted to persons who— (a) have completed a course of theoretical instruction in the subjects prescribed for the purposes of paragraph 8, or (b) have a sufficient period of professional experience. (2) The reference in sub-paragraph (1)(b) to “a sufficient period of professional experience” is to not less than seven years' experience in a professional capacity in the fields of finance, law and accountancy.