SCHEDULES

C1SCHEDULE 3EEA Passport Rights

Annotations:
Modifications etc. (not altering text)
C1

Sch. 3 extended (with modifications) (1.12.2001) by S.I. 2001/2636, arts. 1(2)(b), 25-27; S.I. 2001/3538, art. 2(1)

Sch. 3 extended (with modifications) (Gibraltar) (5.10.2001 for specified purposes, 1.12.2001 in so far as not already in force) by S.I. 2001/3084, arts. 1(1), 2-4 (as amended (16.6.2014) by The Alternative Investment Fund Managers Order 2014 (S.I. 2014/1292), arts. 1(2), 3 (which amending S.I. is itself amended by S.I. 2014/1313, arts. 1, 2(a)); and as amended (31.12.2020) by S.I. 2019/589, regs. 1(3), 5-9 (with reg. 12) (as amended by S.I. 2020/1274, regs. 1, 2)); S.I. 2001/3538, art. 2(1)

Sch. 3 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(b), 128(3)(b) (with art. 23(2))

Part III Exercise of Passport Rights by UK FirmsF2

Annotations:
Amendments (Textual)
F2

Sch. 3 para. 25 and preceding cross-heading inserted (14.1.2005) by The Insurance Mediation Directive (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/1473), reg. 7

Continuing regulation of UK firms

I124

1

Sub-paragraph (2) applies if a UK firm—

a

is not required to have a Part IV permission in relation to the business which it is carrying on; and

b

is exercising the right conferred by F1Article 19 of the banking consolidation directive to carry on that business in an EEA State other than the United Kingdom.

2

If requested to do so by the host state regulator in the EEA State in which the UK firm’s business is being carried on, the Authority may impose any requirement in relation to the firm which it could impose if—

a

the firm had a Part IV permission in relation to the business which it is carrying on; and

b

the Authority was entitled to exercise its power under that Part to vary that permission.