2.—(1) Article 2 of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001(1) is amended as follows.
(2) After paragraph (1) insert—
“(1A) A Gibraltar-based firm falling within paragraph 5(a) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the investment services directive, to establish a branch or provide services in the United Kingdom.”.
(3) In paragraph (2) omit “so far as relating (only) to activities falling within items 1 to 6 in Annex 1 to that directive”.
(4) In paragraph (4)—
(a)before “(2), (3) and (3A)” insert “(1A),”; and
(b)for “5(b),” substitute “5(a), (b),”.
(5) In paragraphs (5) and (7) before “(2), (3) or (3A)”, wherever occurring, insert “(1A),”.