SCHEDULES
C3SCHEDULE 3EEA Passport Rights
Part III Exercise of Passport Rights by UK Firms
Services
I120
C1C21
A UK firm may not exercise an EEA right to provide services unless the firm has given the Authority, in the specified way, notice of its intention to provide services (“a notice of intention”) which—
a
identifies the activities which it seeks to carry out by way of provision of services; and
b
includes such other information as may be specified.
2
The activities identified in a notice of intention may include activities which are not regulated activities.
3
If the firm’s EEA right derives from the investment services directive or F4the banking consolidation directive, the Authority must, within one month of receiving a notice of intention, send a copy of it to the host state regulator.
F13A
If the firm’s EEA right derives from any of the insurance directives, the Authority must, within one month of receiving the notice of intention—
C2a
give notice in specified terms (“a consent notice”) to the host state regulator; or
b
give written notice to the firm of—
i
its refusal to give a consent notice; and
ii
its reasons for that refusal.
4
When the Authority sends the copy under sub-paragraph (3) F2or gives a consent notice, it must give written notice to the firm concerned.
F34A
If the firm is given notice under sub-paragraph (3A)(b), it may refer the matter to the Tribunal.
4B
If the firm’s EEA right derives from any of the insurance directives, it must not provide the services to which its notice of intention relates until it has received written notice under sub-paragraph (4).
4C
Rules may specify the procedure to be followed by the Authority under this paragraph.
5
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6
“Specified” means specified in rules.
Sch. 3 extended (with modifications) (1.12.2001) by S.I. 2001/2636, arts. 1(2)(b), 25-27; S.I. 2001/3538, art. 2(1)
Sch. 3 extended (with modifications) (Gibraltar) (5.10.2001 for specified purposes, 1.12.2001 in so far as not already in force) by S.I. 2001/3084, arts. 1(1), 2-4 (as amended (16.6.2014) by The Alternative Investment Fund Managers Order 2014 (S.I. 2014/1292), arts. 1(2), 3 (which amending S.I. is itself amended by S.I. 2014/1313, arts. 1, 2(a)); and as amended (31.12.2020) by S.I. 2019/589, regs. 1(3), 5-9 (with reg. 12) (as amended by S.I. 2020/1274, regs. 1, 2)); S.I. 2001/3538, art. 2(1)
Sch. 3 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(b), 128(3)(b) (with art. 23(2))