PART 2Repeal of passport rights, etc., under Part 3 of the Financial Services and Markets Act 2000
Repeal of passport rights, etc.I12
1
Part 3 of the 2000 Act (authorisation and exemption) is amended as follows.
2
Omit section 31(1)(b) (authorised persons: EEA firms).
3
Omit section 31(1)(c) (authorised persons: Treaty firms).
4
Omit section 37 (exercise of EEA rights by UK firms).
5
In Schedule 3 (EEA passport rights), omit—
a
Part 2 (exercise of passport rights by EEA firms);
b
Part 3 (exercise of passport rights by UK firms).
6
Omit Schedule 4 (Treaty rights).
Consequential amendmentsI33
The Schedule makes consequential amendments—
a
in Part 1, to the 2000 Act;
b
in Parts 2 and 3, to other enactments.
Saving provision: taxI24
For the purposes of an enactment relating to taxation—
a
the provision made by these Regulations is to be treated as not having been made, and
b
where, by virtue of these Regulations, a person ceases to be a person of a particular description, the person is to be treated as continuing to be a person of that description.