2.—(1) This paragraph applies to an investment firm incorporated in or formed under the law of any part of the United Kingdom which immediately before the commencement date is an authorised person under the Financial Services Act or is an exempted person by reason of its inclusion in the list maintained by the Bank for the purposes of section 43 of that Act.
(2) If an investment firm to which this paragraph applies—
(a)has, before the commencement date, commenced providing any listed service in another EEA State by the provision of services; or
(b)has established in another EEA State for the purpose of providing any such service a branch which immediately before that date is in existence,
it shall be treated for all purposes of these Regulations as if the requirements of paragraph 1 of Schedule 6 to these Regulations had been complied with in relation to its provision of the service or, as the case may be, its establishment of the branch.