PART 5 Expiry of Parts 2 and 3

12 Expiry of Parts 2 and 3
1 Parts 2 and 3 cease to have effect at the end of 31 December 2024.
Word in reg. 12(1) substituted (15.12.2023) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2023 (S.I. 2023/1018), regs. 1(2), 2
2 The Treasury may by regulations made by statutory instrument amend paragraph (1) so as to extend the period during which Parts 2 and 3 have effect, but may only extend that period by 12 months on each occasion.
3 If the Treasury make regulations under paragraph (2), the Treasury must publish and lay before Parliament a statement describing the progress that they have made in preparing new legislation to replace the legislation amended by Parts 2 and 3.
4 A statutory instrument containing regulations under paragraph (2) is subject to annulment in pursuance of a resolution of either House of Parliament.
Reg. 12 in force at 16.3.2019, see reg. 1(2)