There are currently no known outstanding effects for The Mortgage Credit Directive Order 2015, Paragraph 10.
10.—(1) The Financial Services and Markets Act 2000 (Gibraltar) Order 2001 M1 is amended as follows.
(2) In article 2 (exercise of deemed passport rights by Gibraltar-based firms) M2—
(a)after paragraph (3D) insert—
“(3E) A Gibraltar-based firm falling within paragraph 5(i) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the mortgages directive, to establish a branch or provide services in the United Kingdom.”;
(b)in paragraph (4)—
(i)for “and (3D)” substitute “ , (3D) and (3E) ”;
(ii)for “and (h)” substitute “ , (h) and (i) ”;
(c)in paragraph (5) for “or (3D)” in both places that it appears substitute “ , (3D) or (3E) ”;
(d)in paragraph (7) for “or (3D)” substitute “ , (3D) or (3E) ”; and
(e)in paragraph (8)—
(i)in sub-paragraph (a), for “section 194A(7) has” substitute “ sections 194A(7) and 194C(6) M3 have ”;
(ii)in sub-paragraph (b), for “section 195A(11) is” substitute “ sections 195A(11) and 195B(10) M4 are ”.
(3) In article 3 (EEA firms satisfying conditions under Gibraltar law) M5, in paragraph (3) for “(7A)” substitute “ (7B) ”.
Marginal Citations
M2Article 2 was amended by S.I. 2005/1, 2006/1805, 2007/2932 and 3254, 2012/2017, 2013/472 and 3115 and 2014/1292.
M3Section 194C is inserted by this Order.
M4Section 195B is inserted by this Order.
M5Article 3 was amended by S.I. 2007/3254 and 2014/1292.
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