60.—(1) The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019(1) are amended as follows.
(2) In regulation 3 (the Credit Institutions (Reorganisation and Winding Up) Regulations 2004(2)), 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 2004(3))—
(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.””.
Commencement Information
S.I. 2019/680, to which there are amendments not relevant to these Regulations.
S.I. 2004/1045; relevant amending instruments are S.I. 2019/38, and 2019/680.
S.I. 2004/353; relevant amending instruments are S.I. 2019/38 and 2019/680.