SCHEDULES

F1SCHEDULE 2AGibraltar-based persons carrying on activities in the UK

Annotations:
Amendments (Textual)

PART 14Special cases

Gibraltar-based individuals carrying on insurance distribution activities

83

1

For the purposes of paragraph 1, an individual without a head office in Gibraltar is to be treated as having a head office there if the individual—

a

is normally resident in Gibraltar, and

b

has permission from the Gibraltar regulator to carry on an insurance distribution activity in Gibraltar.

2

A notification for the purposes of paragraph 12 in respect of an individual who is a Gibraltar-based person by virtue of this paragraph satisfies paragraph 15(1)(b) if it states the main address where the individual carries on an insurance distribution activity in Gibraltar.

3

The Treasury may by regulations replace the requirement in sub-paragraph (1)(a) with a different requirement relating to residence in Gibraltar.

4

In this paragraph, “insurance distribution activity” has the meaning given in paragraph 2B(5) and (6) of Schedule 6.