SCHEDULE 4 Treaty Rights
Notice to F1UK regulator
5
(1)
Sub-paragraph (2) applies to a Treaty firm which—
(a)
qualifies for authorisation under this Schedule, but
(b)
is not carrying on in the United Kingdom the regulated activity, or any of the regulated activities, which it has permission to carry on there.
(2)
At least seven days before it begins to carry on such a regulated activity, the firm must give F2the appropriate UK regulator written notice of its intention to do so.
F3(2A)
"The appropriate UK regulator” means—
(a)
where any of the activities to which the notice relates is a PRA-regulated activity, the PRA;
(b)
in any other case, the FCA.
(2B)
Where the PRA receives a notice under sub-paragraph (2), it must give a copy to the FCA without delay.
(2C)
Where the FCA receives a notice under sub-paragraph (2) from—
(a)
a PRA-authorised person, or
(b)
a person whose immediate group includes a PRA-authorised person,
it must give a copy to the PRA without delay.
(3)
If a Treaty firm to which sub-paragraph (2) applies has given notice under that sub-paragraph, it need not give such a notice if it again becomes a firm to which that sub-paragraph applies.
F4(4)
Subsections (1), (4) and (8) of section 55U apply to a notice under sub-paragraph (2) as they apply to an application for a Part 4A permission.