SCHEDULES

SCHEDULE 4EEA passport rights and treaty rights

PART 1Amendments of Schedule 3 to FSMA 2000: EEA passport rights

Exercise of passport rights by UK firms

16

(1)

Paragraph 24 (which relates to UK firms exercising rights under the banking consolidation directive) is amended as follows.

(2)

In sub-paragraph (1)(a), for “Part IV permission” substitute “ Part 4A permission ”.

(3)

In sub-paragraph (2)—

(a)

for “the Authority”, in the first place, substitute “ either regulator ”,

(b)

in paragraph (a), for “Part IV permission” substitute “ Part 4A permission ”, and

(c)

in paragraph (b), for “the Authority” substitute “ that regulator ”.