Regulation 4 Management companies, credit institutions and financial institutions: changes to branch detailsF7I1
United Kingdom
Where the relevant requirements have been complied with, the firm’s permission is to be treated as varied accordingly.
For the purposes of this regulation, the “relevant requirements” are those of paragraph (4) or (if the change is occasioned by circumstances beyond the firm’s control) paragraph (5).
The requirements of this paragraph are that—
the firm has given a notice to the F3appropriate UK regulator and to its home state regulator stating the details of the proposed change;
the appropriate UK regulator has received from the home state regulator a notice stating those details; and
either the appropriate UK regulator has informed the firm that it may make the change, or the period of one month beginning with the day on which the firm gave the appropriate UK regulator the notice mentioned in sub-paragraph (a) has elapsed.
The requirements of this paragraph are that the firm has as soon as practicable (whether before or after the change) given a notice to the appropriate UK regulator and to its home state regulator, stating the details of the change.
The appropriate UK regulator must, as soon as practicable after receiving a notice from F4a F5management company, credit institution or financial institution under this regulation, inform the firm of any consequential changes in the applicable provisions (within the meaning of paragraph 13 of Schedule 3).
In this regulation, “the appropriate UK regulator” has the same meaning as in paragraph 13 of Schedule 3.
Annotations
Textual amendments
- F1
Word in reg. 4(1) substituted (1.11.2007) by The Financial Services and Markets Act 2000 (EEA Passport Rights) (Amendment) Regulations 2006 (S.I. 2006/3385), regs. 1(2), 6(b) (with reg. 15)
- F2
Words in reg. 4(1) inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), regs. 1(1), 3(2)(c)(ii)
- F3
Words in reg. 4 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(c)(i)
- F4
Word in reg. 4(6) substituted (1.11.2007) by The Financial Services and Markets Act 2000 (EEA Passport Rights) (Amendment) Regulations 2006 (S.I. 2006/3385), regs. 1(2), 6(c) (with reg. 15)
- F5
Words in reg. 4(6) inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), regs. 1(1), 3(2)(c)(ii)
- F6
Reg. 4(7) inserted (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(c)(ii)
- F7
Word in reg. 4 heading substituted (1.11.2007) by The Financial Services and Markets Act 2000 (EEA Passport Rights) (Amendment) Regulations 2006 (S.I. 2006/3385), regs. 1(2), 6(a) (with reg. 15)