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The Financial Services and Markets Act 2000 (Gibraltar) Order 2001
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Changes and effects yet to be applied to Article 2:
- art. 2(2) words omitted by S.I. 2006/1805 art. 2(3)
- art. 2(2) words substituted by S.I. 2013/3115 Sch. 2 para. 57(2)
- art. 2(3) substituted by S.I. 2019/589 reg. 5(4)
- art. 2(3) words substituted in earlier amending provision S.I. 2019/589, reg. 5(4) by S.I. 2020/1301 reg. 3 Sch. para. 32(b)(iii)
- art. 2(4) omitted by S.I. 2019/589 reg. 5(6)
- art. 2(4) word inserted by S.I. 2006/1805 art. 2(4)(a)
- art. 2(4) words substituted by S.I. 2005/1 art. 2(3)(a)
- art. 2(4) words substituted by S.I. 2005/1 art. 2(3)(b)
- art. 2(4) words substituted by S.I. 2006/1805 art. 2(4)(b)
- art. 2(4) words substituted by S.I. 2007/3254 art. 3(2)(b)
- art. 2(4) words substituted by S.I. 2012/2017 art. 2(2)(b)(i)
- art. 2(4) words substituted by S.I. 2012/2017 art. 2(2)(b)(ii)
- art. 2(4) words substituted by S.I. 2014/1292 art. 3(3)(b)(i) (This S.I. is amended by S.I. 2014/1313)
- art. 2(4) words substituted by S.I. 2014/1292 art. 3(3)(b)(ii) (This S.I. is amended by S.I. 2014/1313)
- art. 2(4) words substituted by S.I. 2015/910 Sch. 1 para. 10(2)(b)(i)
- art. 2(4) words substituted by S.I. 2015/910 Sch. 1 para. 10(2)(b)(ii)
- art. 2(5) word inserted by S.I. 2006/1805 art. 2(5)
- art. 2(5) word inserted by S.I. 2019/589 reg. 5(7)(a)
- art. 2(5) word inserted by S.I. 2019/589 reg. 5(7)(b)
- art. 2(5) words inserted by S.I. 2007/3254 art. 3(2)(c)(i)
- art. 2(5) words inserted by S.I. 2012/2017 art. 2(2)(c)(iii)
- art. 2(5) words inserted by S.I. 2014/1292 art. 3(3)(c)(ii) (This S.I. is amended by S.I. 2014/1313)
- art. 2(5) words omitted by S.I. 2019/589 reg. 5(7)(c)
- art. 2(5) words substituted by S.I. 2005/1 art. 2(4)
- art. 2(5) words substituted by S.I. 2007/3254 art. 3(2)(c)(ii)
- art. 2(5) words substituted by S.I. 2012/2017 art. 2(2)(c)(i)
- art. 2(5) words substituted by S.I. 2012/2017 art. 2(2)(c)(ii)
- art. 2(5) words substituted by S.I. 2014/1292 art. 3(3)(c)(i) (This S.I. is amended by S.I. 2014/1313)
- art. 2(5) words substituted by S.I. 2014/1292 art. 3(3)(c)(iii) (This S.I. is amended by S.I. 2014/1313)
- art. 2(5) words substituted by S.I. 2015/910 Sch. 1 para. 10(2)(c)
- art. 2(5)(b) word inserted by S.I. 2019/589 reg. 5(7)(d)
- art. 2(5)(c) word omitted by S.I. 2019/589 reg. 5(7)(f)
- art. 2(5)(c) words substituted by S.I. 2019/589 reg. 5(7)(e)
- art. 2(5)(c) words substituted in earlier amending provision S.I. 2019/589, reg. 5(7)(e) by S.I. 2020/1301 reg. 3 Sch. para. 32(b)(v)
- art. 2(7) word inserted by S.I. 2006/1805 art. 2(5)
- art. 2(7) word inserted by S.I. 2019/589 reg. 5(9)
- art. 2(7) words omitted by S.I. 2012/2017 art. 2(2)(d)(i)
- art. 2(7) words omitted by S.I. 2012/2017 art. 2(2)(d)(iii)
- art. 2(7) words substituted by S.I. 2005/1 art. 2(4)
- art. 2(7) words substituted by S.I. 2007/3254 art. 3(2)(d)
- art. 2(7) words substituted by S.I. 2012/2017 art. 2(2)(d)(ii)
- art. 2(7) words substituted by S.I. 2013/472 Sch. 2 para. 58(a)
- art. 2(7) words substituted by S.I. 2014/1292 art. 3(3)(d) (This S.I. is amended by S.I. 2014/1313)
- art. 2(7) words substituted by S.I. 2015/910 Sch. 1 para. 10(2)(d)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
- Order revoked by 2021 c. 22 Sch. 8 para. 19
- Blanket amendment words substituted by S.I. 2011/1043 art. 3-6 8-10
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- art. 1(3) inserted by S.I. 2019/589 reg. 4(3)
- art. 2(1A) inserted by S.I. 2006/1805 art. 2(2)
- art. 2(1A) substituted by S.I. 2019/589 reg. 5(2)
- art. 2(1A) words substituted by S.I. 2007/2932 reg. 6
- art. 2(1A) words substituted in earlier amending provision S.I. 2019/589, reg. 5(2) by S.I. 2020/1301 reg. 3 Sch. para. 32(b)(i)
- art. 2(2)(2A) substituted for art. 2(2) by S.I. 2019/589 reg. 5(3)
- art. 2(2)(2A) words substituted in earlier amending provision S.I. 2019/589, reg. 5(3) by S.I. 2020/1301 reg. 3 Sch. para. 32(b)(ii)
- art. 2(3A) inserted by S.I. 2005/1 art. 2(2)
- art. 2(3A)-(3G) substituted for art. 2(3A)-(3E) by S.I. 2019/589 reg. 5(5)
- art. 2(3A) word substituted by S.I. 2018/546 art. 23
- art. 2(3A)-(3F) words substituted in earlier amending provision S.I. 2019/589, reg. 5(5) by S.I. 2020/1301 reg. 3 Sch. para. 32(b)(iv)
- art. 2(3B) inserted by S.I. 2007/3254 art. 3(2)(a)
- art. 2(3C) inserted by S.I. 2012/2017 art. 2(2)(a)
- art. 2(3D) inserted by S.I. 2014/1292 art. 3(3)(a) (This S.I. is amended by S.I. 2014/1313)
- art. 2(3E) inserted by S.I. 2015/910 Sch. 1 para. 10(2)(a)
- art. 2(5)(e)(f) inserted by S.I. 2019/589 reg. 5(7)(g)
- art. 2(5A)-(5F) inserted by S.I. 2019/589 reg. 5(8)
- art. 2(5A)-(5F) words substituted in earlier amending provision S.I. 2019/589, reg. 5(8) by S.I. 2020/1301 reg. 3 Sch. para. 32(b)(vi)
- art. 2(8) inserted by S.I. 2012/2017 art. 2(2)(e)
- art. 2(8) substituted by S.I. 2013/472 Sch. 2 para. 58(b)
- art. 2(8) substituted by S.I. 2019/589 reg. 5(10)
- art. 2(8)(a) words substituted by S.I. 2015/910 Sch. 1 para. 10(2)(e)(i)
- art. 2(8)(b) words substituted by S.I. 2015/910 Sch. 1 para. 10(2)(e)(ii)
- art. 2A inserted by S.I. 2019/589 reg. 6
- art. 2A words substituted in earlier amending provision S.I. 2019/589, reg. 6 by S.I. 2020/1301 reg. 3 Sch. para. 32(c)
- art. 2A(4) substituted by S.I. 2021/1376 reg. 11
- art. 3A inserted by S.I. 2012/2017 art. 2(3)
- art. 3A(1) art. 3A renumbered as art. 3A(1) by S.I. 2019/589 reg. 8(2)
- art. 3A(1) words inserted by S.I. 2019/589 reg. 8(2)
- art. 3A(1) words substituted in earlier amending provision S.I. 2019/589, reg. 8(2) by S.I. 2020/1301 reg. 3 Sch. para. 32(d)(i)
- art. 3A(2) inserted by S.I. 2019/589 reg. 8(3)
- art. 3A(2) words substituted in earlier amending provision S.I. 2019/589, reg. 8(3) by S.I. 2020/1301 reg. 3 Sch. para. 32(d)(ii)
- art. 4(1)(b) words substituted by S.I. 2019/589 reg. 9(2)
- art. 4(3)(e) and word inserted by S.I. 2019/589 reg. 9(4)(e)
- art. 4(3A)-(3D) inserted by S.I. 2019/589 reg. 9(5)
- art. 4(3A) words substituted in earlier amending provision S.I. 2019/589, reg. 9(5) by S.I. 2020/1301 reg. 3 Sch. para. 32(e)(iii)
- art. 4(5)(6) inserted by S.I. 2019/589 reg. 9(7)
- art. 5 inserted by S.I. 2019/589 reg. 10
- art. 5(3)(a) words substituted in earlier amending provision S.I. 2019/589, reg. 10 by S.I. 2020/1301 reg. 3 Sch. para. 32(f)
Exercise of deemed passport rights by Gibraltar-based firmsU.K.
2.—(1) Schedule 3(1) applies in relation to a Gibraltar-based firm as follows.
(2) A Gibraltar-based firm falling within paragraph 5(b) or (c) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the banking consolidation directive so far as relating (only) to activities falling within items 1 to 6 in Annex 1 to that directive, to establish a branch or provide services in the United Kingdom.
(3) A Gibraltar-based firm falling within paragraph 5(d) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from any of the insurance directives, to establish a branch or provide services in the United Kingdom.
(4) For the purposes of paragraphs (2) and (3), references in paragraph 5(b) and (d) of Schedule 3 to the home state regulator are to be treated as references to the competent authority (within the meaning of the relevant single market directive) in Gibraltar in relation to the Gibraltar-based firm concerned.
(5) In relation to such a Gibraltar-based firm as is mentioned in paragraph (2) or (3), references in Schedule 3, the Passport Rights Regulations and the Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001(2) to—
(a)“an EEA State” are to be treated as references to Gibraltar;
(b)“an EEA right” are to be treated as references to the entitlement mentioned in paragraph (2) or (3);
(c)rights deriving from a single market directive are to be treated as references to that entitlement, so far as corresponding to those rights; and
(d)“EEA activities” are to be treated as references to the activities which the firm is seeking to carry on in exercise of that entitlement.
(6) Paragraph 16 of Schedule 3 does not apply to Gibraltar-based firms.
(7) For the avoidance of doubt, a Gibraltar-based firm which is exercising, or has exercised, the entitlement mentioned in paragraph (2) or (3) is to be taken to be an “incoming firm” for the purposes of Part XIII of the Act (incoming firms: intervention by the Authority); but section 199(7) of the Act has effect, in relation to such a Gibraltar-based firm, as if the words “and the Commission” were omitted.
Commencement Information
I1Art. 2 in force at 5.10.2001 for specified purposes, see art. 1(1)(a)
I2Art. 2 in force at 1.12.2001 in so far as not already in force, see art. 1(1)(b)
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