Paragraph 10 The Financial Services and Markets Act 2000 (Gibraltar) Order 2001

(1)

The Financial Services and Markets Act 2000 (Gibraltar) Order 2001 M1 is amended as follows.

(2)

In article 2 (exercise of deemed passport rights by Gibraltar-based firms) M2—

(a)

after paragraph (3D) insert—

“(3E)
A Gibraltar-based firm falling within paragraph 5(i) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the mortgages directive, to establish a branch or provide services in the United Kingdom.”;

(b)

in paragraph (4)—

(i)

for “and (3D)” substitute “ , (3D) and (3E) ”;

(ii)

for “and (h)” substitute “ , (h) and (i) ”;

(c)

in paragraph (5) for “or (3D)” in both places that it appears substitute “ , (3D) or (3E) ”;

(d)

in paragraph (7) for “or (3D)” substitute “ , (3D) or (3E) ”; and

(e)

in paragraph (8)—

(i)

in sub-paragraph (a), for “section 194A(7) has” substitute “ sections 194A(7) and 194C(6) M3 have ”;

(ii)

in sub-paragraph (b), for “section 195A(11) is” substitute “ sections 195A(11) and 195B(10) M4 are ”.

(3)

In article 3 (EEA firms satisfying conditions under Gibraltar law) M5, in paragraph (3) for “(7A)” substitute “ (7B) ”.

Annotations

Marginal citations

M1: S.I. 2001/3084.
M2: Article 2 was amended by S.I. 2005/1, 2006/1805, 2007/2932 and 3254, 2012/2017, 2013/472 and 3115 and 2014/1292.
M3: Section 194C is inserted by this Order.
M4: Section 195B is inserted by this Order.
M5: Article 3 was amended by S.I. 2007/3254 and 2014/1292.

Notes on the whole SI

Textual amendments

F1: Order revoked (14.12.2023 for the revocation of art. 33) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xiii)