5 Amendment of the Appointed Representatives Regulations
In regulation 3—
(a) in paragraph (1), for the words from the beginning to “representative”, where it first occurs, substitute “Except where paragraph (1A) applies to a contract between a principal and a representative, it is a prescribed requirement for the purposes of section 39(1)(a)(ii) of the Act that such a contract”;
(b) after paragraph (1) insert—

“1A This paragraph applies to a contract where the principal is an EEA investment firm or an EEA credit institution.”

;
(c) after paragraph (5) insert—

“6 In the case of a representative to whom subsection (1A) of section 39 of the Act applies, it is a prescribed requirement for the purposes of subsection (1)(a)(ii) of that section, except where paragraph (1A) applies, that the contract between the principal and the representative must contain a provision that the representative is only permitted to provide the services and carry on the activities referred to in Article 4.1.25 of the markets in financial instruments directive while he is entered on the applicable register.”

.