SCHEDULES

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

26(1)Paragraph 5 (notice to Authority) is amended as follows.U.K.

(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.”

(4)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 ”.