SCHEDULE 4EEA passport rights and treaty rights
PART 2Amendments of Schedule 4 to FSMA 2000: Treaty rights
26
(1)
Paragraph 5 (notice to Authority) is amended as follows.
(2)
In sub-paragraph (2), for “the Authority” substitute “
the appropriate UK regulator
”
.
(3)
“(2A)
The appropriate UK regulator” means—
(a)
where any of the activities to which the notice relates is a PRA-regulated activity, the PRA;
(b)
in any other case, the FCA.
(2B)
Where the PRA receives a notice under sub-paragraph (2), it must give a copy to the FCA without delay.
(2C)
Where the FCA receives a notice under sub-paragraph (2) from—
(a)
a PRA-authorised person, or
(b)
a person whose immediate group includes a PRA-authorised person,
it must give a copy to the PRA without delay.”
(4)
“(4)
Subsections (1), (4) and (8) of section 55U apply to a notice under sub-paragraph (2) as they apply to an application for a Part 4A permission.”
(5)
In the italic heading immediately before paragraph 5, for “Authority” substitute “
UK regulator
”
.