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Paragraph 49 F1

United Kingdom

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

(1)

A UK regulator may exercise the powers under this paragraph in relation to a Gibraltar-based person only where one of the own-initiative conditions is satisfied (see paragraph 28).

(2)

The FCA may—

(a)

impose a requirement on a Gibraltar-based person with a Schedule 2A permission,

(b)

vary a requirement imposed by the FCA under this Part of this Schedule, or

(c)

cancel such a requirement.

(3)

The PRA may—

(a)

impose a requirement on a Gibraltar-based person with a Schedule 2A permission where the person is a PRA-authorised person,

(b)

vary a requirement imposed by the PRA under this Part of this Schedule, or

(c)

cancel such a requirement.

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)