F1PART 7Transitional and saving provision: exemption from the general prohibition
Annotations:
Amendments (Textual)
CHAPTER 1Exemption from the general prohibition
Conditions to be satisfied for regulation 47 to apply: persons to whom regulation 28 ceases to apply50
The conditions are that the person is one—
a
to whom regulation 28 ceases to apply, in accordance with regulation 41(7),
b
who, on regulation 28 ceasing to apply, is not authorised by virtue of section 31(1)(a) of the 2000 Act to carry on a regulated activity to which, immediately before regulation 28 ceases to apply, the person is permitted to carry on by virtue of that regulation,
c
who, immediately before regulation 28 ceases to apply, is carrying on such an activity in the United Kingdom other than through an establishment in the United Kingdom, and
d
who is the subject of a direction under section 55JA of the 2000 Act (inserted by regulation 43 in respect of persons to whom regulation 28 or 24 applies).
Pt. 7 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 3