SCHEDULES
SCHEDULE 3EEA Passport Rights
Part II Exercise of Passport Rights by EEA Firms
Power to restrict permission of management companies
F1Information to home state regulator
15C
(1)
Where an EEA firm falling within paragraph 5(f) has applied to manage a UCITS established in the United Kingdom, the F2appropriate UK regulator, as defined in paragraph 15A(7), must without delay inform the home state regulator of that firm of any problem of which they are aware that may materially affect the ability of the firm—
(a)
to perform its duties properly, or
(b)
to comply with the home state rules.
(2)
In sub-paragraph (1), “home state rules” means rules—
(a)
made by the EEA State concerned in accordance with the UCITS directive; and
(b)
which are the responsibility of that EEA State (both as to implementation and as to supervision of compliance) in accordance with that directive.