[F1RequirementsU.K.
Textual Amendments
F1Sch. 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)
40(1)A requirement may be imposed on a Gibraltar-based person in accordance with this Part of this Schedule—U.K.
(a)by a UK regulator as part of the process of considering a notification under Part 3 or 4 of this Schedule (see paragraphs 41 to 43),
(b)on the initiative of the Gibraltar regulator (see paragraphs 44 to 48), or
(c)on the UK regulator's initiative (see paragraphs 49 to 52).
(2)Requirements imposed on a Gibraltar-based person in accordance with this Part of this Schedule may be varied or cancelled in accordance with this Part of this Schedule—
(a)on the initiative of the Gibraltar regulator (see paragraphs 44 to 48), or
(b)on the UK regulator's initiative (see paragraphs 49 to 52).]