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The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018
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- UK Statutory Instruments
- 2018 No. 1149
- PART 5
- Regulation 27
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The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018, Section 27 is up to date with all changes known to be in force on or before 06 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Regulation 27:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Power to amend time limits imposed by modifications under [F1Parts 3 and 4 of] these RegulationsU.K.
This section has no associated Explanatory Memorandum
27.—(1) The Treasury may by regulations made by statutory instrument amend—
(a)regulation 6(7)(a) and (b) to extend the period during which an application under section 55V of the 2000 Act must be determined,
(b)regulation 17(1)(a) to extend the period during which regulation 8 or 11 applies, and
(c)regulation 25(2) to extend the period during which an application under regulation 48 of the Solvency 2 Regulations 2015 must be determined,
if the Treasury considers it necessary to do so.
(2) The Treasury may only make regulations under paragraph (1) if, no later than six months before the end of the period to be extended, the Financial Conduct Authority and the Prudential Regulation Authority have submitted to the Treasury a joint assessment as to the effect of extending, and not extending, the period on—
(a)persons (in general) to whom regulation 8 or 11 applies,
(b)the UK financial system (within the meaning of section 1I of the 2000 Act M1), and
(c)the ability of the Financial Conduct Authority and Prudential Regulation Authority to discharge their functions in a way that advances their objectives under Part 1A of the 2000 Act M2.
(3) Regulations under paragraph (1) may not extend the period for the time being by more than 12 months.
(4) Regulations under paragraph (1) may make consequential amendments to regulation 6(7)(c), (8) and (9), regulation 23(2) and regulation 25(4).
(5) A statutory instrument which contains regulations under paragraph (1) is subject to annulment in pursuance of a resolution of either House of Parliament.
Textual Amendments
F1Words in reg. 27 heading inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 7(2)
Marginal Citations
M1Section 1I is inserted by section 6(1) of the Financial Services Act 2012 (c. 21).
M2Part 1A is inserted by section 6(1) of the Financial Services Act 2012 (c. 21).
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