SCHEDULES

SCHEDULE 4EEA passport rights and treaty rights

PART 2Amendments of Schedule 4 to FSMA 2000: Treaty rights

I2I326

1

Paragraph 5 (notice to Authority) is amended as follows.

2

In sub-paragraph (2), for “the Authority” substitute “ the appropriate UK regulator ”.

3

After sub-paragraph (2) insert—

2A

The appropriate UK regulator” means—

a

where any of the activities to which the notice relates is a PRA-regulated activity, the PRA;

b

in any other case, the FCA.

2B

Where the PRA receives a notice under sub-paragraph (2), it must give a copy to the FCA without delay.

2C

Where the FCA receives a notice under sub-paragraph (2) from—

a

a PRA-authorised person, or

b

a person whose immediate group includes a PRA-authorised person,

it must give a copy to the PRA without delay.

4I1

For sub-paragraph (4) substitute—

4

Subsections (1), (4) and (8) of section 55U apply to a notice under sub-paragraph (2) as they apply to an application for a Part 4A permission.

5

In the italic heading immediately before paragraph 5, for “Authority” substitute “ UK regulator ”.