SCHEDULES
SCHEDULE 2A

Gibraltar-based persons carrying on activities in the UK
PART 6

Requirements

Imposing requirements in connection with Part 3 or 4 notification: procedure
42
1
If a UK regulator proposes to impose a requirement on a Gibraltar-based person under paragraph 41, it must—
a
give the person a warning notice,
b
give the Gibraltar regulator a written notice of the proposed requirement, stating the UK regulator's reasons for imposing the requirement, and
c
consider any representations made by the Gibraltar regulator within the period specified in the notice.
2
If a UK regulator decides to impose a requirement on a Gibraltar-based person under paragraph 41, it must give the person a decision notice.
Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6; S.I. 2023/934, reg. 2(a)