PART 5Amendment of secondary legislation
The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019I160
1
The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 201948 are amended as follows.
2
In regulation 3 (the Credit Institutions (Reorganisation and Winding Up) Regulations 200449), after the words “Gibraltarian credit institutions,” insert “investment firms and group companies”.
3
In Schedule 1 (modifications to the Insurers (Reorganisation and Winding Up) Regulations 200450)—
a
at the beginning of paragraph 2, after the words “Regulation 2 applies as if—” insert—
a
in paragraph (1)—
b
in paragraph (2), re-number paragraphs (a) to (h) as (i) to (viii);
c
at the end of paragraph 2, after sub-paragraph (viii) insert—
b
in paragraph (2)—
i
in sub-paragraphs (a) and (b), for “the relevant EEA State” both times it occurs, there were substituted “Gibraltar”;
ii
the words after sub-paragraph (b) were omitted.
d
for paragraph 6 substitute—
6
Regulation 10 applies as if—
a
in the heading, for “EEA regulators”, there were substituted “the Gibraltarian regulator”;
b
for “EEA regulators in every EEA State”, both times it occurs, there were substituted “Gibraltarian regulator”.
4
In Schedule 2 (modifications to the Credit Institutions (Reorganisation and Winding Up) Regulations 2004)—
a
in paragraph 3, after sub-paragraph (b) insert—
c
paragraph (7A) were omitted.
b
in paragraph 6, for “from the purposes of Articles 10” substitute “for the purposes of Articles 10”;
c
in paragraph 7, for sub-paragraph (c) substitute—
c
for paragraph (4), there were substituted—
4
In this regulation, the “relevant person” means, if the UK credit institution has a branch in Gibraltar, the Gibraltarian regulator.