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Paragraph 40 F1

United Kingdom

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

(1)

A requirement may be imposed on a Gibraltar-based person in accordance with this Part of this Schedule—

(a)

by a UK regulator as part of the process of considering a notification under Part 3 or 4 of this Schedule (see paragraphs 41 to 43),

(b)

on the initiative of the Gibraltar regulator (see paragraphs 44 to 48), or

(c)

on the UK regulator's initiative (see paragraphs 49 to 52).

(2)

Requirements imposed on a Gibraltar-based person in accordance with this Part of this Schedule may be varied or cancelled in accordance with this Part of this Schedule—

(a)

on the initiative of the Gibraltar regulator (see paragraphs 44 to 48), or

(b)

on the UK regulator's initiative (see paragraphs 49 to 52).

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)