56. In section 191G M1 (interpretation), in subsection (1)—
(a)omit the definition of “credit institution”M2;
(b)in the definition of “UK authorised person”, in paragraph (b), after “Schedule 5” insert “ , or a person treated as having a Part 4A permission to carry on a regulated activity by virtue of regulation 71 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 ”M3 .
[F1(c)in the appropriate place, insert—
““qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before IP completion day to implement the capital requirements directive.”]
Textual Amendments
F1Reg. 56(c) inserted (31.12.2020 immediately before IP completion day) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(3), 9(4) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(d)(i)); 2020 c. 1, Sch. 5 para. 1(1)
Commencement Information
I1Reg. 56 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M1Section 191G was substituted by S.I. 2009/534.
M2The definition of “credit institution” in section 191G(1) was amended by S.I. 2013/3115.