PART 5 U.K.Expiry of Parts 2 and 3

Expiry of Parts 2 and 3 U.K.

12.—(1) Parts 2 and 3 cease to have effect at the end of 31 December [F1 2024].

(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.

Textual Amendments

F1 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

Commencement Information

I1 Reg. 12 in force at 16.3.2019, see reg. 1(2)