The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019

Exclusion of Gibraltar-based firms from transitional arrangements

11.—(1) The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018(1) are amended as follows.

(2) In regulation 1 (citation, commencement and interpretation), after paragraph (4) insert—

“(5) In these Regulations “Gibraltar firm” means a person whose registered office is in Gibraltar or a person who has no registered office and whose head office is in Gibraltar.”

(3) In regulation 10 (conditions to be satisfied for regulation 8 to apply)—

(a) omit the “and” at the end of sub-paragraph (a),

(b) at the end of sub-paragraph (b) insert—

“and

(c) is not a Gibraltar firm.”

(4) In regulation 13 (conditions to be satisfied for regulation 11 to apply)—

(a) omit the “and” at the end of sub-paragraph (a),

(b) at the end of sub-paragraph (b) insert—

“and

(c) is not a Gibraltar firm.”

(5) In regulation 30 (conditions to be satisfied for regulation 28 to apply: persons who cease to be authorised on exit day), after sub-paragraph (a) insert—

“(aa) who is not a Gibraltar firm,”.

(6) In regulation 35 (application of regulation 34)—

(a) omit the “and” at the end of sub-paragraph (a),

(b) at the end of sub-paragraph (b) insert—

“and

(c) is not a Gibraltar firm.”

(7) In regulation 48 (application of regulation 47), after “49,” insert “49A,”.

(8) In regulation 49 (conditions to be satisfied for regulation 47 to apply: persons who cease to be authorised on exit day), after paragraph (a) insert—

“(aa) who is not a Gibraltar firm,”.

(1)

S.I. 2018/1149: amended by S.I. 2019/405.