- Latest available (Revised)
- Point in Time (01/12/2001)
- Original (As made)
Version Superseded: 27/04/2002
Point in time view as at 01/12/2001.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
2.—(1) The following information is prescribed for the purposes of paragraph 13(1)(b)(iii) of Schedule 3 (and is therefore to be included in a consent notice given to the Authority by a firm’s home state regulator pursuant to paragraph 13(1)(a) of Schedule 3).
(2) In the case of an investment firm, the prescribed information is—
(a)a statement that the firm is an investment firm;
(b)the requisite details of the branch; and
(c)details of any compensation scheme which is intended to protect the branch’s investors.
(3) In the case of a credit institution, the prescribed information is—
(a)a statement that the firm is a credit institution;
(b)the requisite details of the branch;
(c)the amount of the firm’s own funds (as defined in Section 1 of Chapter 2 of Title V to the banking consolidation directive); and
(d)the solvency ratio of the firm (calculated in accordance with the banking consolidation directive).
(4) In the case of a financial institution, the prescribed information is—
(a)a statement that—
(i)the firm is a financial institution;
(ii)the firm is a subsidiary undertaking of a credit institution which is authorised in the EEA State in question and which holds at least 90 per cent of the voting rights in the firm (and for the purpose of this paragraph any two or more credit institutions which are authorised in that EEA State and hold voting rights in the firm are to be treated as a single credit institution, and as being “parent undertakings” of the firm);
(iii)the firm carries on in that EEA State the EEA activities in question;
(iv)the memorandum and articles of association, or other constituent instrument, of the firm permit it to carry on those activities;
(v)the consolidated supervision of the firm’s parent undertaking or, if more than one, any one of them effectively includes supervision of the firm;
(vi)the firm’s parent undertaking has guaranteed or, if more than one, they have jointly and severally guaranteed, the firm’s obligations, with the consent of the home state regulator;
(vii)the firm’s business is being conducted in a prudent manner;
(b)the requisite details of the branch;
(c)the amount of the firm’s own funds (as defined in Section 1 of Chapter 2 of Title V to the banking consolidation directive); and
(d)the solvency ratio of the firm’s parent undertaking (calculated in accordance with the banking consolidation directive).
(5) In the case of an insurance firm, the prescribed information is—
(a)a scheme of operations prepared in accordance with such requirements as may be imposed by the firm’s home state regulator, setting out (amongst other things) the types of business to be carried on and the structural organisation of the branch;
(b)the name of the firm’s authorised agent;
(c)the address in the United Kingdom from which information about the business may be obtained, and a statement that this is the address for service on the firm’s authorised agent;
(d)in the case of a firm which intends to cover relevant motor vehicle risks, a declaration by the firm that it has become a member of the Motor Insurers' Bureau (being a company limited by guarantee and incorporated under the Companies Act 1929(1) on the 14th June 1946); and
(e)a statement by the firm’s home state regulator attesting that the firm has the minimum margin of solvency calculated in accordance with such of the following as are appropriate—
(i)Articles 16 and 17 of the first non-life insurance directive, and
(ii)Articles 18, 19 and 20 of the first life insurance directive.
3.—(1) The following information is prescribed for the purposes of paragraph 14(1)(b) of Schedule 3 (and is therefore to be included in a regulator’s notice given to the Authority by a firm’s home state regulator pursuant to that paragraph).
(2) In the case of an investment firm, the prescribed information is—
(a)a statement that the firm is an investment firm; and
(b)particulars of the programme of operations to be carried on in the United Kingdom, including a description of the particular EEA activities to be carried on.
(3) In the case of an insurance firm, the prescribed information is—
(a)a statement of the classes of business which the firm is authorised to carry on in accordance with Article 6 of the first non-life insurance directive or Article 6 of the first life insurance directive;
(b)the name and address of the firm;
(c)the nature of the risks or commitments which the firm proposes to cover in the United Kingdom;
(d)in the case of a firm which intends to cover relevant motor vehicle risks—
(i)the name and address of the claims representative; and
(ii)a declaration by the firm that it has become a member of the Motor Insurers' Bureau; and
(e)a statement by the firm’s home state regulator attesting that the firm has the minimum margin of solvency calculated in accordance with such of the following as are appropriate—
(i)Articles 16 and 17 of the first non-life insurance directive, and
(ii)Articles 18, 19 and 20 of the first life insurance directive.
1929 c. 23. Repealed by the Companies Act 1948 (c. 38).
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: