[F1Imposing requirements in connection with Part 3 or 4 notification: procedureU.K.
Textual Amendments
F1Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6 (as amended (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 100(3)(b)); S.I. 2023/934, reg. 2(a)
42(1)If a UK regulator proposes to impose a requirement on a Gibraltar-based person under paragraph 41, it must—U.K.
(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.]