ECSH44980 | Beneficial owner, officer or manager who has passed the fit and proper test applies for the approvals check

Where a BOOM moves to a different business

When a beneficial owner, officer or manager (BOOM) who has previously passed the fit and proper test subsequently applies to undergo the approvals check as a BOOM of a different business, the applicant must pay the full approval check fee.

Where a business adds a new approvals sector

When a money service business (MSB) or trust or company service provider (TCSP) updates its registration to advise that the business has also started to provide services as an; accountancy service provider, art market participant, estate agency business, high value dealer or letting agency business, its BOOMs do not need to pay an approvals check fee.

If a fee is automatically generated in these circumstances, then a refund will need to be applied.