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Paragraph 32 F1

United Kingdom

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

(1)

If the appropriate UK regulator receives a notification from the Gibraltar regulator requesting the cancellation of a Gibraltar-based person's Schedule 2A permission (see paragraph 34), the permission is cancelled when the period for considering the notification ends (see paragraph 35).

(2)

A Schedule 2A permission is not cancelled under sub-paragraph (1) if, during the period for considering the notification—

(a)

the appropriate UK regulator rejects the notification (see paragraph 36), or

(b)

the Gibraltar regulator withdraws the notification.

(3)

References in this Part of this Schedule to a notification are references to a notification for the purposes of this paragraph.

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)