The F3FCA may transfer an application for the approval of a prospectus or a supplementary prospectus to the competent authority of another EEA State (“the transferee authority”).

Before doing so, the F4FCA must obtain the agreement of the transferee authority F5and notify ESMA.

The F4FCA must inform the applicant of the transfer within 3 working days beginning with the first working day after the date of the transfer.

On making a transfer under subsection (1), the F4FCA ceases to have functions under this Part in relation to the application transferred.