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PART 10Notices

CHAPTER 2Notices under Part 4, sections 189, 191A, 197 and 321, and paragraph 19 of Schedule 3

UK firm seeking to establish a branch

32.—(1) This article applies where—

(a)before the commencement date, the Authority received a notice of intention within the meaning of paragraph 19(2)(1) of Schedule 3 (establishment); and

(b)the notice would have been sent to the PRA as the appropriate UK regulator (within the meaning of paragraph 18A(2) of that Schedule (meaning of “the appropriate UK regulator”)) had the notice been sent on the commencement date.

(2) Paragraph (3) applies if, before the commencement date, the Authority—

(a)gave a warning notice under paragraph 19(8) of Schedule 3; and

(b)had not given a decision notice or a notice of discontinuance following that warning notice.

(3) The warning notice is to be treated as if it had been given by the PRA.

(4) Paragraph (5) applies if, before the commencement date—

(a)the Authority—

(i)gave a decision notice under paragraph 19(12) of that Schedule; and

(ii)had not given a final notice or notice of discontinuance following that decision notice; and

(b)the decision notice was not referred to the Tribunal.

(5) The decision notice is to be treated as if it had been given by the PRA.

(1)

Paragraph 19 was amended by S.I. 2003/1473 and 2066, 2007/126 and 3253, 2011/1613, 2012/916 and 1906 and is further amended by the 2012 Act, Schedule 4, Part 1, paragraph 10.

(2)

Paragraph 18A is inserted by the 2012 Act, Schedule 4, Part 1, paragraph 9.