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The Mortgage Credit Directive Order 2015
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The Financial Services and Markets Act 2000 (Gibraltar) Order 2001
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10.—(1) The Financial Services and Markets Act 2000 (Gibraltar) Order 2001(1) is amended as follows.
(2) In article 2 (exercise of deemed passport rights by Gibraltar-based firms)(2)—
(a)after paragraph (3D) insert—
“(3E) A Gibraltar-based firm falling within paragraph 5(i) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the mortgages directive, to establish a branch or provide services in the United Kingdom.”;
(b)in paragraph (4)—
(i)for “and (3D)” substitute “, (3D) and (3E)”;
(ii)for “and (h)” substitute “, (h) and (i)”;
(c)in paragraph (5) for “or (3D)” in both places that it appears substitute “, (3D) or (3E)”;
(d)in paragraph (7) for “or (3D)” substitute “, (3D) or (3E)”; and
(e)in paragraph (8)—
(i)in sub-paragraph (a), for “section 194A(7) has” substitute “sections 194A(7) and 194C(6)(3) have”;
(ii)in sub-paragraph (b), for “section 195A(11) is” substitute “sections 195A(11) and 195B(10)(4) are”.
(3) In article 3 (EEA firms satisfying conditions under Gibraltar law)(5), in paragraph (3) for “(7A)” substitute “(7B)”.
(1)
(2)
Article 2 was amended by S.I. 2005/1, 2006/1805, 2007/2932 and 3254, 2012/2017, 2013/472 and 3115 and 2014/1292.
(3)
Section 194C is inserted by this Order.
(4)
Section 195B is inserted by this Order.
(5)
Article 3 was amended by S.I. 2007/3254 and 2014/1292.
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