Version Superseded: 27/02/2013
Point in time view as at 01/12/2001.
Financial Services and Markets Act 2000, Paragraph 4 is up to date with all changes known to be in force on or before 07 March 2025. 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.
4(1)On qualifying for authorisation under this Schedule, a Treaty firm has permission to carry on each permitted activity through its United Kingdom branch or by providing services in the United Kingdom.U.K.
(2)The permission is to be treated as being on terms equivalent to those to which the firm’s home state authorisation is subject.
(3)If, on qualifying for authorisation under this Schedule, a firm has a Part IV permission which includes permission to carry on a permitted activity, the Authority must give a direction cancelling the permission so far as it relates to that activity.
(4)The Authority need not give a direction under sub-paragraph (3) if it considers that there are good reasons for not doing so.
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