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 Firms

Offence relating to exercise of passport rights

I121

1

If a UK firm which is not an authorised person contravenes the prohibition imposed by—

a

sub-paragraph (1) of paragraph 19, or

b

sub-paragraph (1) or F1(4B) of paragraph 20,

it is guilty of an offence.

2

A firm guilty of an offence under sub-paragraph (1) is liable—

a

on summary conviction, to a fine not exceeding the statutory maximum; or

b

on conviction on indictment, to a fine.

3

In proceedings for an offence under sub-paragraph (1), it is a defence for the firm to show that it took all reasonable precautions and exercised all due diligence to avoid committing the offence.