Part XXVIII Miscellaneous
Third countries
408EFTA firms.
(1)
If a third country decision has been taken, the Treasury may make a determination in relation to an EFTA firm which is a subsidiary undertaking of a parent undertaking which is governed by the law of the country to which the decision relates.
(2)
“Determination” means a determination that the firm concerned does not qualify for authorisation under Schedule 3 even if it satisfies the conditions in paragraph 13 or 14 of that Schedule.
(3)
A determination may also be made in relation to any firm falling within a class specified in the determination.
(4)
The Treasury may withdraw a determination at any time.
(5)
But withdrawal does not affect anything done in accordance with the determination before it was withdrawn.
(6)
If the Treasury make a determination in respect of a particular firm, or withdraw such a determination, they must give written notice to that firm.
(7)
The Treasury must publish notice of any determination (or the withdrawal of any determination)—
(a)
in such a way as they think most suitable for bringing the determination (or withdrawal) to the attention of those likely to be affected by it; and
(b)
on, or as soon as practicable after, the date of the determination (or withdrawal).
(8)
“EFTA firm” means a firm, institution or undertaking which—
(a)
is an EEA firm as a result of paragraph 5(a), (b) or (d) of Schedule 3; and
(b)
is incorporated in, or formed under the law of, an EEA State which is not a member State.
(9)
“Third country decision” has the same meaning as in section 405.