# Financial Services and Markets Act 2000, Paragraph 42

Extent: E+W+S+N.I.

(1) If a UK regulator proposes to impose a requirement on a Gibraltar-based person under paragraph 41, it must—
(a) give the person a warning notice,
(b) give the Gibraltar regulator a written notice of the proposed requirement, stating the UK regulator's reasons for imposing the requirement, and
(c) consider any representations made by the Gibraltar regulator within the period specified in the notice.
(2) If a UK regulator decides to impose a requirement on a Gibraltar-based person under paragraph 41, it must give the person a decision notice.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/schedule/2A/paragraph/42 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/schedule-2A/paragraph-42
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.