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 and 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.