Page 449 - IOM Law Society Rules Book

152 Financial Services Act 2008 c.8

(b) any person in accordance with whose directions or
instructions one or more of the appointed directors are
accustomed to act unless the appointed director or
directors are accustomed so to act by reason only that
they do so on advice given by that person in a
professional capacity; and

(c) in relation to a limited liability company constituted under
[c.19] the Limited Liability Companies Act 1996, a member, the
company’s manager and the registered agent;

(d) in respect of any other body corporate such persons as
occupy a position equivalent to that of director;

“documents” includes information recorded in any form and,
in relation to information recorded otherwise than in
legible form, references to its production include
references to producing a copy of the information in
legible form;

“financial crime” includes any crime involving —

(a) fraud or dishonesty;

(b) misconduct in, or misuse of information relating to, a
financial market; or

(c) handling the proceeds of crime or funds connected with
terrorism;

“former business” means business undertaken when a person
was the holder of a licence;

“group”, in relation to a company, means that company, any
other company which is its holding company or
subsidiary and any other company which is a subsidiary
of that holding company;

“holding company” shall be construed in accordance with
the definition of subsidiary;

“key person” means —

(a) such persons as appear to the Commission to have
significant powers or responsibilities with respect to any
regulated activity undertaken or intended to be undertaken
by a permitted person or an applicant to be a licenceholder;

(b) such persons as a licenceholder or an applicant to be a
licenceholder arranges or intends to arrange to be
officers of a body corporate;