OpenLegislation

Regulation 20 Changes relating to EEA firms: procedures partly completed at commencementI1

United Kingdom

(1)

If before commencement—

(a)

an EEA firm which was a European institution within the meaning of the 2BCD Regulations gave a notice under paragraph 4(1)(a) of Schedule 2 to those Regulations (changes to details of branch), and

(b)

not all the other requirements set out in paragraph 4(1) of that Schedule were satisfied,

the notice is to be treated as given under regulation 4(4)(a), and the other requirements set out in regulation 4(4) treated as satisfied to the extent to which the corresponding requirements in paragraph 4(1) of that Schedule had been satisfied.

(2)

If before commencement—

(a)

an EEA firm which was a European investment firm within the meaning of the ISD Regulations gave a notice under paragraph 5(1)(a) of Schedule 3 to those Regulations (changes to details of branch), and

(b)

not all the other requirements set out in paragraph 5(1) of that Schedule were satisfied,

the notice is to be treated as given under regulation 4(4)(a), and the other requirements set out in regulation 4(4) treated as satisfied to the extent to which the corresponding requirements in paragraph 5(1) of that Schedule had been satisfied.

(3)

In a case falling within paragraph (1) or (2), regulation 4(6) applies unless the F1Financial Services Authority had, before commencement, complied with the duty in regulation 8(3) of the 2BCD Regulations or regulation 8(4) of the ISD Regulations.

(4)

If before commencement—

(a)

an EEA firm which was an EC company within the meaning of the Insurance Companies Act gave a notice under paragraph 2(2)(a) of Schedule 2F to that Actf1 (changes to details of branch), and

(b)

not all the other requirements set out in paragraph 2(2) of that Schedule were satisfied,

the notice is to be treated as given under regulation 6(4)(a), and the other requirements set out in regulation 6(4) treated as satisfied to the extent to which the corresponding requirements in paragraph 2(2) of that Schedule had been satisfied.

(5)

In a case falling within paragraph (4), regulation 6(6) applies except to the extent that the duty in paragraph 2(4) of Schedule 2F to the Insurance Companies Act had been complied with before commencement.

(6)

If before commencement—

(a)

an EEA firm which was an EC company within the meaning of the Insurance Companies Act gave a notice under paragraph 9(2)(a) of Schedule 2F to that Act (changes relating to the provision of services), and

(b)

the requirement in paragraph 9(2)(b) of that Schedule was not satisfied,

the notice is to be treated as given under regulation 7(4)(a).

Annotations

Textual amendments

F1

Words in reg. 20 substituted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 3(k)

Commencement

I1

Reg. 20 in force at 1.12.2001, see reg. 1(1)

Footnotes

f1

Schedule 2F was inserted by S.I. 1994/1696.