The Financial Services (Consequential Amendments) Regulations 2020

The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018

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

(2) In the following provisions and, where applicable, headings, for the words “exit day”, wherever they occur, substitute “IP completion day”—

(a) regulation 5 (persons to whom the modifications of Part 4A of the Financial Services and Markets Act 2000 apply);

(b) regulation 6 (modifications of Part 4A of the Financial Services and Markets Act 2000);

(c) regulation 7 (persons who cease to be authorised to carry on a regulated activity before exit day);

(d) regulation 8 (deemed permission under Part 4A of the Financial Services and Markets Act 2000);

(e) regulation 10 (conditions to be satisfied for regulation 8 to apply);

(f) regulation 11(deemed variation under Part 4A of the Financial Services and Markets Act 2000);

(g) regulation 13 (conditions to be satisfied for regulation 11 to apply);

(h) regulation 14 (steps to be taken before exit day: application or notification);

(i) regulation 15 (regulator’s response);

(j) regulation 17 (period during which regulation 8 or 11 is to apply);

(k) regulation 18 (requirements to be imposed by a domestic regulator);

(l) regulation 19 (requirements to be imposed by a home state regulator);

(m) regulation 21 (interpretation);

(n) regulation 22 (persons to whom the modifications in regulations 23 to 25 apply);

(o) regulation 23 (performance of regulated activities—modifications of Part 5 of the Financial Services and Markets Act 2000);

(p) regulation 25 (insurance and reinsurance—modification of Part 4 of the Solvency 2 Regulations 2015);

(q) regulation 26 (persons who cease to be authorised to carry on a regulated activity before exit day);

(r) regulation 30 (conditions to be satisfied for regulation 28 to apply: persons who cease to be authorised on exit day);

(s) regulation 33 (regulated activities to which regulation 28 applies);

(t) regulation 34 (deemed variation under Part 4A of the Financial Services and Markets Act 2000);

(u) regulation 36 (conditions to be satisfied for regulation 34 to apply: persons who cease to be authorised on exit day);

(v) regulation 40 (regulated activities to which regulation 34 applies);

(w) regulation 45 (requirements imposed by a home state regulator);

(x) regulation 46 (interpretation);

(y) regulation 49 (conditions to be satisfied for regulation 47 to apply: persons who cease to be authorised on exit day);

(z) regulation 52 (regulated activities to which regulation 47 has effect);

(aa) regulation 68 (interpretation of Part 7).

(1)

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