The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019

Exclusion of Gibraltar-based firms from transitional arrangementsU.K.

This section has no associated Explanatory Memorandum

11.—(1) The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 M1 are amended as follows.

(2) In regulation 1 (citation, commencement and interpretation), after paragraph (4) insert—

“(5) In these Regulations “Gibraltar firm” means a person whose registered office is in Gibraltar or a person who has no registered office and whose head office is in Gibraltar.”

(3) In regulation 10 (conditions to be satisfied for regulation 8 to apply)—

(a)omit the “and” at the end of sub-paragraph (a),

(b)at the end of sub-paragraph (b) insert—

“and

(c)is not a Gibraltar firm.”

(4) In regulation 13 (conditions to be satisfied for regulation 11 to apply)—

(a)omit the “and” at the end of sub-paragraph (a),

(b)at the end of sub-paragraph (b) insert—

“and

(c)is not a Gibraltar firm.”

(5) In regulation 30 (conditions to be satisfied for regulation 28 to apply: persons who cease to be authorised on exit day), after sub-paragraph (a) insert—

“(aa)who is not a Gibraltar firm,”.

(6) In regulation 35 (application of regulation 34)—

(a)omit the “and” at the end of sub-paragraph (a),

(b)at the end of sub-paragraph (b) insert—

“and

(c)is not a Gibraltar firm.”

(7) In regulation 48 (application of regulation 47), after “49,” insert “ 49A, ”.

(8) In regulation 49 (conditions to be satisfied for regulation 47 to apply: persons who cease to be authorised on exit day), after paragraph (a) insert—

“(aa)who is not a Gibraltar firm,”.

Commencement Information

I1Reg. 11 in force at 16.3.2019, see reg. 1(2)

Marginal Citations