SCHEDULES

F1SCHEDULE 2AGibraltar-based persons carrying on activities in the UK

PART 6Requirements

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.