Section 22 is amended by section 7(1) of the Financial Services Act 2012 (c. 21) and by S.I. 2018/135.

Section 22A is inserted by section 9 of the Financial Services Act 2012 (c. 21).

Words in reg. 21 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(m)

http://www.legislation.gov.uk/uksi/2018/1149/regulation/21The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018texttext/xmlenStatute Law DatabaseEXITING THE EUROPEAN UNIONFINANCIAL SERVICES AND MARKETS2024-05-16Expert Participation2024-01-01These Regulations repeal EEA Passport Rights under Schedule 3 to the Financial Services and Markets Act 2000 (c. 8) (“the 2000 Act”) and Treaty Rights under Schedule 4 to that Act. A person with an EEA Passport Right or a Treaty Right is one who is authorised in the person's home EEA state to carry on a regulated activity and, as a result, may become authorised to carry on a regulated activity (see section 22 of the 2000 Act) in the United Kingdom. Reciprocal arrangements are provided by European Union member states.PART 3Transitional and saving provision: applications for permission to carry on a regulated activityCHAPTER 7General provision21Interpretation1

In this Part—

the FCA” means the Financial Conduct Authority;

home state regulator” means the competent authority of an EEA state in relation to the person concerned; and “competent authority” is construed in accordance with the EU instrument by virtue of which, immediately before IP completion day, the person derived authorisation to carry on a regulated activity in the United Kingdom;

the PRA” means the Prudential Regulation Authority;

regulated activity” has the same meaning as in section 22 of the 2000 Act .

2

A reference to the relevant regulator is, subject to a direction of the PRA or the FCA given with the consent of the other, a reference to—

a

the PRA, in a case where the regulated activities to which an application or notification under regulation 14 relates consist of or include a PRA-regulated activity (within the meaning of section 22A of the 2000 Act );

b

the FCA, in any other case.

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