[F112(1)If the appropriate UK regulator receives a notification from the Gibraltar regulator that a Gibraltar-based person wants to be able to carry on an approved activity in the United Kingdom (see paragraph 15), the person obtains permission to do so at the end of the period for considering the notification, as it relates to the activity (see paragraph 16).U.K.
(2)The person does not obtain permission to carry on an activity under sub-paragraph (1) if, during the period for considering the notification—
(a)the appropriate UK regulator rejects the notification, as it relates to the activity (see paragraph 17), or
(b)the Gibraltar regulator withdraws the notification, as it relates to the activity.
(3)References in this Part of this Schedule to a notification are references to a notification for the purposes of this paragraph.
(4)A permission obtained under this paragraph is referred to in this Act as “a Schedule 2A permission”.]
Textual Amendments
F1Sch. 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)