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 the Authority written notice of its intention to do so.
(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.
(4)Subsections (1), (3) and (6) of section 51 apply to a notice under sub-paragraph (2) as they apply to an application for a Part IV permission.