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Paragraph 73 F1

United Kingdom

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

(1)

The FCA must consult the PRA before—

(a)

rejecting a notification under paragraph 19 in a case in which the person with responsibility for managing an aspect of the Gibraltar-based person's affairs is prohibited by an order under section 56 from performing a function in relation to an activity carried on by a PRA-authorised person, or

(b)

rejecting a notification under paragraph 20 in a case in which a relevant access right that was lost related to a PRA-regulated activity.

(2)

The FCA must consult the PRA before doing any of the following in a case in which the Gibraltar-based person is a PRA-authorised person or a member of a group that includes a PRA-authorised person—

(a)

rejecting a notification under paragraph 26(5);

(b)

varying a Schedule 2A permission under paragraph 27;

(c)

rejecting a notification under paragraph 36(4);

(d)

cancelling a Schedule 2A permission under paragraph 37(1);

(e)

imposing a requirement under paragraph 41(3);

(f)

rejecting a notification under paragraph 48(4);

(g)

imposing, varying or cancelling a requirement under paragraph 49(2).

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)