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Regulation 9 The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019I1

United Kingdom

(1)

The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 M1 are amended as follows.

(2)

In regulation 32(2)(b), after “United Kingdom”, insert “ or Gibraltar ”.

(3)

In regulation 53—

(a)

in paragraph (a), after “United Kingdom”, insert “ or Gibraltar ”;

(b)

in paragraph (b), in the opening words of the new paragraph (b), after “Kingdom)” insert “ or of Gibraltar ”.

(4)

In regulation 56, after paragraph (b), insert—

“(c)

in the appropriate place, insert—

““qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before F1IP completion day to implement the capital requirements directive.””.

(5)

In regulation 88, for paragraph (f), substitute—

“(f)

for subsection (10), substitute—

“(10)

For the purposes of this section “qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before F2IP completion day to implement the capital requirements directive.””.

(6)

In regulation 106, omit paragraph (2).

(7)

In regulation 184(3), after “United Kingdom” insert “ or Gibraltar ”.

Annotations

Textual amendments

F1

Words in reg. 9(4) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 40(d)(i)

F2

Words in reg. 9(5) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 40(d)(ii)

Marginal citations

M1

S.I. 2019/632.

Commencement

I1

Reg. 9 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)