98.This sets out the type of person who can be given permission and therefore who can be authorised by this route.  Permission can be applied for and granted to individuals, bodies corporate, partnerships and unincorporated associations.  In the case of some regulated activities, however, there are specific constraints on the type of person which may be given permission under the threshold conditions in Schedule 6.
99.Permission may cover a number of regulated activities.  Permission is only given once, after that it is simply changed.  Thus, subsection (2) rules out an application for the grant of permission to an authorised person where he already has permission under this Part.  Therefore, if a person wishes to carry on additional activities, he would need to apply for a variation of permission under section 44.
Commentary on Sections Part Iv: Permission to Carry on Regulated Activities Section 40: Application for permission