24(1)Sub-paragraph (2) applies if a UK firm—U.K.
(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 [F1[F2Article 24] 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.
Textual Amendments
F1Words in Sch. 3 Pt. III para. 24(1)(b) substituted (22.11.2000) by S.I. 2000/2952, reg. 8(5)(f)
F2Words in Sch. 3 para. 24(1)(b) substituted (1.1.2007) by The Capital Requirements Regulations 2006 (S.I. 2006/3221), reg. 29(1), Sch. 3 para. 2(4)
Commencement Information
I1Sch. 3 Pt. III para. 24 wholly in force at 1.12.2001; Sch. 3 Pt. III para. 24 not in force at Royal Assent see s. 431(2); Sch. 3 Pt. III para. 24 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b)(c), Sch. Pts. 2, 3; Sch. 3 Pt. III para. 24 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; Sch. 3 Pt. III para. 24 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)