Paragraph 10 The Financial Services and Markets Act 2000 (Gibraltar) Order 2001

(1)

The Financial Services and Markets Act 2000 (Gibraltar) Order 2001^f1 is amended as follows.

(2)

In article 2 (exercise of deemed passport rights by Gibraltar-based firms)^f2—

(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)^f3 have”;

(ii)

in sub-paragraph (b), for “section 195A(11) is” substitute “sections 195A(11) and 195B(10)^f4 are”.

(3)

In article 3 (EEA firms satisfying conditions under Gibraltar law)^f5, in paragraph (3) for “(7A)” substitute “(7B)”.

Annotations

Footnotes

f1: S.I. 2001/3084.
f2: Article 2 was amended by S.I. 2005/1, 2006/1805, 2007/2932 and 3254, 2012/2017, 2013/472 and 3115 and 2014/1292.
f3: Section 194C is inserted by this Order.
f4: Section 195B is inserted by this Order.
f5: Article 3 was amended by S.I. 2007/3254 and 2014/1292.