The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

Section 191G (interpretation of Part 12)U.K.

This section has no associated Explanatory Memorandum

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

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.