SCHEDULES
C2SCHEDULE 4 Treaty Rights
Notice to F4UK regulator
Words in Sch. 4 para. 5 cross-heading substituted (27.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 4 para. 26(5) (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
I15
C11
Sub-paragraph (2) applies to a Treaty firm which—
a
qualifies for authorisation under this Schedule, but
b
is not carrying on in the United Kingdom the regulated activity, or any of the regulated activities, which it has permission to carry on there.
2
At least seven days before it begins to carry on such a regulated activity, the firm must give F1the appropriate UK regulator written notice of its intention to do so.
F22A
"The appropriate UK regulator” means—
a
where any of the activities to which the notice relates is a PRA-regulated activity, the PRA;
b
in any other case, the FCA.
2B
Where the PRA receives a notice under sub-paragraph (2), it must give a copy to the FCA without delay.
2C
Where the FCA receives a notice under sub-paragraph (2) from—
a
a PRA-authorised person, or
b
a person whose immediate group includes a PRA-authorised person,
it must give a copy to the PRA without delay.
3
If a Treaty firm to which sub-paragraph (2) applies has given notice under that sub-paragraph, it need not give such a notice if it again becomes a firm to which that sub-paragraph applies.
F34
Subsections (1), (4) and (8) of section 55U apply to a notice under sub-paragraph (2) as they apply to an application for a Part 4A permission.
Sch. 4 extended (1.12.2001) by S.I. 2001/2636, arts. 1(2)(b), 28-32; S.I. 2001/3538, art. 2(1)