Modifications etc. (not altering text)
C1Sch. 3 extended (with modifications) (1.12.2001) by S.I. 2001/2636, arts. 1(2)(b), 25-27; S.I. 2001/3538, art. 2(1)
Sch. 3 extended (with modifications) (Gibraltar) (5.10.2001 for specified purposes, 1.12.2001 in so far as not already in force) by S.I. 2001/3084, arts. 1(1), 2-4 (as amended (16.6.2014) by The Alternative Investment Fund Managers Order 2014 (S.I. 2014/1292), arts. 1(2), 3 (which amending S.I. is itself amended by S.I. 2014/1313, arts. 1, 2(a)); and as amended (31.12.2020) by S.I. 2019/589, regs. 1(3), 5-9 (with reg. 12) (as amended by S.I. 2020/1274, regs. 1, 2)); S.I. 2001/3538, art. 2(1)
Sch. 3 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(b), 128(3)(b) (with art. 23(2))
22(1)Regulations may make such provision as the Treasury consider appropriate in relation to a UK firm’s exercise of EEA rights, and may in particular provide for the application (with or without modification) of any provision of, or made under, this Act in relation to an activity of a UK firm.U.K.
(2)Regulations may—
(a)make provision as to any change (or proposed change) of a prescribed kind relating to a UK firm or to an activity that it carries on and as to the procedure to be followed in relation to such cases;
(b)make provision with respect to the consequences of the firm’s failure to comply with a provision of the regulations.
(3)Where a provision of the kind mentioned in sub-paragraph (2) requires the Authority’s consent to a change (or proposed change)—
(a)consent may be refused only on prescribed grounds; and
(b)if the Authority decides to refuse consent, the firm concerned may refer the matter to the Tribunal.
Commencement Information
I1Sch. 3 Pt. III para. 22 wholly in force at 1.12.2001; Sch. 3 Pt. III para. 22 not in force at Royal Assent see s. 431(2); Sch. 3 Pt. III para. 22 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b)(c), Sch. Pts. 2, 3; Sch. 3 Pt. III para. 22 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; Sch. 3 Pt. III para. 22 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)
23(1)[F1Sub-paragraphs (2) and (2A) apply] if a UK firm—U.K.
(a)has a Part IV permission; and
(b)is exercising an EEA right to carry on any Consumer Credit Act business in an EEA State other than the United Kingdom.
(2)The Authority may exercise its power under section 45 in respect of the firm if [F2the Office of Fair Trading] has informed the Authority that—
(a)the firm,
(b)any of the firm’s employees, agents or associates (whether past or present), or
(c)if the firm is a body corporate, a controller of the firm or an associate of such a controller,
has done any of the things specified in paragraphs [F3(a) to (e) of section 25(2A)] of the M1Consumer Credit Act 1974.
[F4(2A)The Authority may also exercise its power under section 45 in respect of the firm if the Office of Fair Trading has informed the Authority that it has concerns about any of the following—
(a)the firm's skills, knowledge and experience in relation to Consumer Credit Act businesses;
(b)such skills, knowledge and experience of other persons who are participating in any Consumer Credit Act business being carried on by the firm;
(c)practices and procedures that the firm is implementing in connection with any such business.]
(3)“Associate”, “Consumer Credit Act business” and “controller” have the same meaning as in section 203.
Textual Amendments
F1Words in Sch. 3 para. 23(1) substituted (6.4.2008) by Consumer Credit Act 2006 (c. 14), ss. 33(10), 71(2); S.I. 2007/3300, art. 3(2), Sch. 2
F2Words in Sch. 3 para. 23(2) substituted (1.4.2003) by Enterprise Act 2002 (c. 40), ss. 278(1), 279, Sch. 25 para. 40(19)(b); S.I. 2003/766, art. 2, Sch. (with art. 3)
F3Words in Sch. 3 para. 23(2) substituted (6.4.2008) by Consumer Credit Act 2006 (c. 14), ss. 33(11), 71(2); S.I. 2007/3300, art. 3(2), Sch. 2
F4Sch. 3 para. 23(2A) inserted (6.4.2008) by Consumer Credit Act 2006 (c. 14), ss. 33(12), 71(2); S.I. 2007/3300, art. 3(2), Sch. 2
Commencement Information
I2Sch. 3 Pt. III para. 23 wholly in force at 1.12.2001; Sch. 3 Pt. III para. 23 not in force at Royal Assent see s. 431(2); Sch. 3 Pt. III para. 23 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b)(c) Sch. Pts. 2, 3; Sch. 3 Pt. III para. 23 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; Sch. 3 Pt. III para. 23 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)
Marginal Citations
24(1)Sub-paragraph (2) applies if a UK firm—U.K.
(a)is not required to have a Part IV permission in relation to the business which it is carrying on; and
(b)is exercising the right conferred by [F5[F6Article 24] of the banking consolidation directive] to carry on that business in an EEA State other than the United Kingdom.
(2)If requested to do so by the host state regulator in the EEA State in which the UK firm’s business is being carried on, the Authority may impose any requirement in relation to the firm which it could impose if—
(a)the firm had a Part IV permission in relation to the business which it is carrying on; and
(b)the Authority was entitled to exercise its power under that Part to vary that permission.
Textual Amendments
F5Words in Sch. 3 Pt. III para. 24(1)(b) substituted (22.11.2000) by S.I. 2000/2952, reg. 8(5)(f)
F6Words in Sch. 3 para. 24(1)(b) substituted (1.1.2007) by The Capital Requirements Regulations 2006 (S.I. 2006/3221), reg. 29(1), Sch. 3 para. 2(4)
Commencement Information
I3Sch. 3 Pt. III para. 24 wholly in force at 1.12.2001; Sch. 3 Pt. III para. 24 not in force at Royal Assent see s. 431(2); Sch. 3 Pt. III para. 24 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b)(c), Sch. Pts. 2, 3; Sch. 3 Pt. III para. 24 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; Sch. 3 Pt. III para. 24 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)