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The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018
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Changes over time for: PART 1
Version Superseded: 31/12/2020
Alternative versions:
- 07/11/2018- Amendment
- 07/11/2018
Point in time - 31/12/2020- Amendment
Status:
Point in time view as at 07/11/2018.
Changes to legislation:
The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018,
PART 1
is up to date with all changes known to be in force on or before 12 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Valid from 31/12/2020
PART 1 U.K.The Financial Services and Markets Act 2000 (c. 8)
1. The Financial Services and Markets Act 2000 M1 is amended as follows.U.K.
2. In section 3E (memorandum of understanding) M2, omit subsection (2)(f) and (k).U.K.
Marginal Citations
M2Inserted by section 6(1) of the Financial Services Act 2012 (c. 21).
3. Omit section 34 (EEA firms) M3.U.K.
Marginal Citations
M3Amended by paragraph 27 of Schedule 4 to the Financial Services Act 2012 (c. 21).
4. Omit section 35 (Treaty firms) M4.U.K.
Marginal Citations
M4Amended by paragraph 28 of Schedule 4 to the Financial Services Act 2012 (c. 21).
5. In section 55A (application for permission) M5, omit subsection (4).U.K.
Marginal Citations
M5Inserted by section 11(2) of the Financial Services Act 2012 (c. 21) and amended by S.I. 2018/135.
6. In section 55Q (exercise of power in support of overseas regulator) M6, omit subsection (2).U.K.
Marginal Citations
M6Inserted by section 11(2) of the Financial Services Act 2012 (c. 21).
7. In section 55R (persons connected with an applicant) M7, omit subsections (2) to (3B).U.K.
Marginal Citations
M7Inserted by section 11(2) of the Financial Services Act 2012 (c. 21) and amended by S.I. 2017/701.
8.—(1) Section 55X (determination of applications: warning notices and decision notices) M8 is amended as follows.U.K.
(2) In subsection (2), omit “(unless subsection (3) applies)”.
(3) Omit subsection (3).
Marginal Citations
M8Inserted by section 11(2) of the Financial Services Act 2012 (c. 21) and amended by S.I. 2018/135.
9. In section 137A (the FCA's general rules) M9, omit subsection (5).U.K.
Marginal Citations
M9Inserted by section 24(1) of the Financial Services Act 2012 (c. 21).
10. In section 137G (the PRA's general rules) M10, omit subsection (5).U.K.
Marginal Citations
M10Inserted by section 24(1) of the Financial Services Act 2012 (c. 21).
11. In section 168 (appointment of persons to carry out investigations in particular cases) M11, in subsection (1)(b), omit “or under Schedule 4”.U.K.
Marginal Citations
M11Amended by paragraph 8(1) and (2) of Schedule 12 to the Financial Services Act 2012 (c. 21) and S.I. 2016/680.
12. Omit Part 13 (incoming firms: intervention by FCA or PRA), except for, in section 195 (exercise of power in support of overseas regulator), subsections (3) and (4).U.K.
13. Omit Part 13A (enhanced supervision of firms exercising rights under the Insurance Distribution Directive) M12.U.K.
Marginal Citations
M12Inserted by S.I. 2018/546.
14. In section 213 (the compensation scheme) M13, omit subsections (10) and (11).U.K.
Marginal Citations
M13Amended by S.I. 2011/1613.
15. In section 214 (provisions of the scheme: general), omit subsection (5).U.K.
16. In section 224 (scheme manager's power to inspect documents held by Official Receiver etc.), omit subsection (4).U.K.
17. In section 234K (duty to consider exercise of powers under Competition Act 1998) M14, in subsection (3), omit paragraph (f).U.K.
Marginal Citations
M14Inserted by paragraphs 1 and 3 of Schedule 8 to the Financial Services (Banking Reform) Act 2013 (c. 33).
18. In section 313D (interpretation of Part 18A) M15, in subsection (1), in the definition of “institution”, omit from “but does not include” to the end.U.K.
Marginal Citations
M15Inserted by S.I. 2007/126 and amended by section 36(a) of the Financial Services Act 2012 (c. 21), S.I. 2013/3115 and S.I. 2017/701.
19. Omit section 368 (winding-up petitions: EEA and Treaty firms) M16.U.K.
Marginal Citations
M16Amended by paragraphs 1 and 15 of Schedule 14 to the Financial Services Act 2012 (c. 21).
20.—(1) Section 425 (expressions relating to authorisation elsewhere in the single market) M17 is amended as follows.U.K.
(2) Omit subsection (2).
(3) In the heading, omit “elsewhere”.
Marginal Citations
M17Amended by S.I. 2003/2066, S.I. 2004/3379, S.I. 2006/2975, S.I. 2007/126, S.I. 2007/3253, S.I. 2012/1906, S.I. 2013/1773, S.I. 2013/3115, S.I. 2015/575 and S.I. 2015/910.
21. In Schedule 1ZA (the Financial Conduct Authority) M18, in Part 3 (penalties and fees), omit paragraph 24(a) (together with the final “or”).U.K.
Marginal Citations
M18Inserted by Schedule 3 to the Financial Services Act 2012 (c. 21).
22. In Schedule 1ZB (the Prudential Regulation Authority) M19, in Part 3 (penalties and fees), omit paragraph 32(a) (together with the final “or”).U.K.
Marginal Citations
M19Inserted by Schedule 3 to the Financial Services Act 2012 (c. 21).
23.—(1) Schedule 6 (threshold conditions) is amended as follows.U.K.
(2) Omit Part 1F (authorisation under Schedule 3) M20.
(3) Omit Part 1G (authorisation under Schedule 4) M21.
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