conditionally approved individual means an individual to whom, at some time before 1 January 2015, an approval was granted under INDI 2005, rule 4A.4.2 (Conditional approval — individuals likely to acquire competencies for customer facing function within 12 months), if that approval would still have been in effect on 1 January 2015 had these rules not been made.

INDI 2005 means the Individuals Rules 2005 (as in force immediately before 1 January 2015).