OpenLegislation

Paragraph 17 F1

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

The appropriate UK regulator may not reject a notification unless—

(a)

it is required to do so under paragraph 18, or

(b)

it has power to do under paragraph 19 or 20.

(2)

A notification is rejected when the appropriate UK regulator gives a written notice of the rejection to the Gibraltar regulator.

(3)

The rejection of a notification does not prevent the Gibraltar regulator from giving a further notification relating to the same person and the same activity.

Annotations

Textual amendments

F1

Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6 (as amended (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 100(3)(b)); S.I. 2023/934, reg. 2(a)