PART 2Gibraltar related amendments

The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019I19

1

The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 M1 are amended as follows.

2

In regulation 32(2)(b), after “United Kingdom”, insert “ or Gibraltar ”.

3

In regulation 53—

a

in paragraph (a), after “United Kingdom”, insert “ or Gibraltar ”;

b

in paragraph (b), in the opening words of the new paragraph (b), after “Kingdom)” insert “ or of Gibraltar ”.

4

In regulation 56, after paragraph (b), insert—

c

in the appropriate place, insert—

“qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before F1IP completion day to implement the capital requirements directive.

5

In regulation 88, for paragraph (f), substitute—

f

for subsection (10), substitute—

10

For the purposes of this section “qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before F2IP completion day to implement the capital requirements directive.

6

In regulation 106, omit paragraph (2).

7

In regulation 184(3), after “United Kingdom” insert “ or Gibraltar ”.