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Financial Services Act 2021
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- UK Public General Acts
- 2021 c. 22
- SCHEDULE 8
- Paragraph 7
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Financial Services and Markets Act 2000 (c. 8)
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7In section 213 (the compensation scheme), after subsection (9) insert—
“(10A)But a person is not to be regarded as a relevant person in relation to a regulated activity if, at that time, the person—
(a)was a Gibraltar-based person with a Schedule 2A permission to carry on the activity, and
(b)fell within a prescribed category, either generally or in relation to the activity.
(10B)Regulations prescribing a category of person for the purposes of subsection (10A) may, among other things, make provision by reference to—
(a)whether the activity is carried on through a branch in the United Kingdom;
(b)the level of protection provided by the compensation scheme and by any comparable scheme operating in Gibraltar.”
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