Beauforce Corporation Limited

Limits on what they may do

• Restriction on regulated activities

  1. The Firm must not conduct any regulated activities without the Authority’s prior written consent.

• Assets requirement

  2. The Firm must not, without the prior written consent of the Authority, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its customers or investors (whether in the United Kingdom or elsewhere), whether held by the Firm as at the date of the imposition of the Requirements or acquired thereafter. 3. The Firm must not, without the prior written consent of the Authority, accept any new funds from existing customers. 4. The Firm must, as soon as practicable and in any event no later than 12pm on 4 December 2025, return all funds held for or on behalf of existing customers in accordance with all relevant legal and regulatory requirements. Unless otherwise instructed by a customer, payments must be made to the same account used to transfer the funds to the Firm. 5. Paragraph 2 does not apply to: a. monetary payments or the disposal of assets made by the Firm in the ordinary and proper course of business, amounting to no more than exceed £1,500 (or £3,000 in the case of legal expenses), whether as a single transaction or a combination of related transactions; b. the return of customer funds, as set out in paragraph 4; c. usual and proper salary payments made by the Firm (and which had been agreed prior to the imposition of the Requirements); d. payments of funds to the Firm’s suppliers in the ordinary course of business and in satisfaction of the Firm’s contractual and legal obligations. 6. For the purposes of paragraph 5, the following payments would not be regarded as payments in the ordinary and proper course of business: a. Payments of unusual or significant sums to the Firm’s controllers, shareholders, directors, officers, employees or any connected persons (whether as a single transaction or a combination of related transactions). For the avoidance of doubt, the Firm is required to seek prior approval from the Authority for any amount over £1,500; b. The making of any distribution to the Firm’s shareholders whether by way of capital distribution or dividends; c. The making of any gift, personal expenses or loan by the Firm to any party; or d. Payments made as part of any financial restructuring or reorganisation of its business, from the sale of any part of the Firm’s business (whether share or asset based).

• Notification requirements

  7. By 12pm on 4 December 2025, notify in writing all customers, banking partners, customers’ creditors, or any other relevant person of the effect of the Requirements in a form to be agreed in advance with the Authority. 8. Within 4 December 2025, must provide to the Authority: a. Copies of the template notification sent to all recipients. b. Confirmation that to the best of its knowledge, the Firm has sent notifications pursuant to paragraph 7. c. A complete list of the Firm’s current customers. d. A complete list of any parties who the Firm has been unable to notify pursuant to paragraph 7 and the reasons why the parties have not been notified.

• Secure records

  9. The Firm must secure and preserve all records and/or information (physical or electronic) relating to its current, and former customers, from its systems in their original form, or in a copy proved to be identical to the source material. These must be retained in a form and at a location within the United Kingdom, to be notified to the Authority in writing by 4 December 2025, such that they can be provided to the Authority, or to a person named by the Authority, promptly on its request. 10. By 12pm 4 December 2025 the Firm must provide written confirmation to the Authority that it is in complying with the Requirements.