# Financial Services Act 2021, Paragraph 7


In section 213 (the compensation scheme), after subsection (9) insert—
“(10A) But a person is not to be regarded as a relevant person in relation to a regulated activity if, at that time, the person—
(a) was a Gibraltar-based person with a Schedule 2A permission to carry on the activity, and
(b) fell within a prescribed category, either generally or in relation to the activity.
(10B) Regulations prescribing a category of person for the purposes of subsection (10A) may, among other things, make provision by reference to—
(a) whether the activity is carried on through a branch in the United Kingdom;
(b) the level of protection provided by the compensation scheme and by any comparable scheme operating in Gibraltar.”

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Source: https://www.legislation.gov.uk/ukpga/2021/22/schedule/8/paragraph/7 (the official version)
Page: https://openlegislation.uk/financial-services-act-2021/schedule-8/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.