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The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018

Sections179
2018 No. 1149

Exiting The European Union

Financial Services And Markets

The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018

Made6th November 2018
Coming into force in accordance with regulation 1(2) and (3)
M1The Treasury make the following Regulations in exercise of the powers conferred by section 8(1) of, paragraph 1 of Schedule 4 to, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018 .
In accordance with paragraphs 1(1) and (2) and 12(1) of Schedule 7 to that Act, a draft of this instrument has been laid before, and approved by a resolution of, each House of Parliament.C6

PART 1  General provision

1 Citation, commencement and interpretation

1 These Regulations may be cited as the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018.
2 These Regulations come into force on the day after the day on which they are made, subject to paragraph (3).
3 Regulations 2 to 4 , 24, 70 and 71 come into force on exit day.
4 In these Regulations, “the 2000 Act” means the Financial Services and Markets Act 2000 M2.
5 In these Regulations “Gibraltar firm” means a person whose registered office is in Gibraltar or a person who has no registered office and whose head office is in Gibraltar.

PART 2 Repeal of passport rights, etc., under Part 3 of the Financial Services and Markets Act 2000

I12 Repeal of passport rights, etc.

1 Part 3 of the 2000 Act (authorisation and exemption) is amended as follows.
2 Omit section 31(1)(b) (authorised persons: EEA firms).
3 Omit section 31(1)(c) (authorised persons: Treaty firms).
4 Omit section 37 (exercise of EEA rights by UK firms).
5 In Schedule 3 (EEA passport rights), omit—
a Part 2 (exercise of passport rights by EEA firms);
b Part 3 (exercise of passport rights by UK firms).
6 Omit Schedule 4 (Treaty rights).

I63 Consequential amendments

The Schedule makes consequential amendments—
a in Part 1, to the 2000 Act;
b in Parts 2 and 3, to other enactments.

I24 Saving provision: tax

For the purposes of an enactment relating to taxation—
a the provision made by these Regulations is to be treated as not having been made, and
b where, by virtue of these Regulations, a person ceases to be a person of a particular description, the person is to be treated as continuing to be a person of that description.

PART 3  Transitional and saving provision: applications for permission to carry on a regulated activity

CHAPTER 1 Modifications of Part 4A of the Financial Services and Markets Act 2000

5 Persons to whom the modifications of Part 4A of the Financial Services and Markets Act 2000 apply

1 The modifications of Part 4A of the 2000 Act (permission to carry on regulated activities) specified in regulation 6 apply—
a before IP completion day, in respect of a person who is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act;
b on and after IP completion day, in respect of a person to whom regulation 8 or 11 applies.
2 Paragraph (1)(a) only applies in respect of a person if—
a an application for permission, or for the variation of a permission, under Part 4A of the 2000 Act—
i is made by the person on or after the day on which this regulation comes into force, or
ii is made by the person before the day on which this regulation comes into force and has not, immediately before that day, been determined by a regulator in accordance with section 55V of that Act, and
b the application is in respect of carrying on a regulated activity, on or after IP completion day, that the person is authorised to carry on by virtue of section 31(1)(b) or (c) of that Act.

6 Modifications of Part 4A of the Financial Services and Markets Act 2000

1 Part 4A of the 2000 Act M3 (permission to carry on regulated activities) is modified as follows.
2 Section 55A (application for permission) has effect as if—
a in subsection (2), after “subsection (2B)” there were inserted “ and to a direction of the PRA or the FCA given with the consent of the other ”;
b in subsection (3), after “is in force” there were inserted “ , other than a person who is treated as having such a permission by virtue of regulation 8 of the 2018 Regulations, ”.
3 Section 55H (variation by FCA at request of authorised person) has effect as if, after subsection (7), there were inserted—
4 Section 55I (variation by PRA at request of authorised person) has effect as if, after subsection (8), there were inserted—
5 Section 55J (variation or cancellation on initiative of regulator) has effect as if, after subsection (1) there were inserted—
6 Section 55U (applications under Part 4A) has effect as if—
a in subsection (4), after paragraph (b), there were inserted—
;
b after subsection (4), there were inserted—
7 Section 55V (determination of applications) has effect as if—
a in subsection (1), for the words from “6 months” to the end there were substituted “ three years beginning with the day on which IP completion day occurs. ”;
b in subsection (2), for the words from “12 months” to the end there were substituted “ three years beginning with the day on which IP completion day occurs. ”;
c after subsection (6) there were inserted—
8 Section 55X (determination of applications: warning notices and decision notices) has effect as if, after subsection (4), there were inserted—
9 Section 55Z (cancellation of Part 4A permission: procedure) has effect as if, after subsection (2), there were inserted—
10 Section 55Z4 (interpretation of Part 4A) has effect as if, at the appropriate place, there were inserted—
.

7 Persons who cease to be authorised to carry on a regulated activity before IP completion day

1 The modification of Part 4A of the 2000 Act specified in paragraph (2) applies in respect of a person to whom, before IP completion day, regulation 5(1)(a) ceases to apply.
2 Section 55V (determination of applications) has effect as if, in subsections (1) and (2), for the words from “it received” to the end there were substituted “ regulation 5(1)(a) of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 ceased to apply to the applicant. ”

CHAPTER 2 Temporary permission to carry on a regulated activity

C18 Deemed permission under Part 4A of the Financial Services and Markets Act 2000

1 A person to whom this regulation applies shall be treated as if the person has permission to carry on a regulated activity in the United Kingdom under Part 4A of the 2000 Act.
2 The regulated activity a person is permitted to carry on by virtue of this regulation is one which, immediately before IP completion day, the person is authorised to carry on in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act.
3 Reference in an enactment to a person with permission under Part 4A of the 2000 Act (however expressed) is to be read, unless the contrary intention appears, as including a person treated as having permission to carry on a regulated activity under that Part by virtue of this regulation.
4 Accordingly, a power of a regulator under the 2000 Act is exercisable in respect of such a person, and a regulated activity the person is permitted to carry on by virtue of this regulation, as it is in respect of a person with permission under Part 4A of that Act, and a regulated activity the person is permitted to carry on by virtue of Part 4A of that Act.
5 Such a power is exercisable in relation to, in particular—
a the variation or cancellation of a permission to carry on a regulated activity, or
b the imposition of requirements, prohibitions or restrictions on a person who has such a permission.

9 Application of regulation 8

1 Regulation 8 applies to a person who—
a satisfies the conditions in regulation 10, and
b has taken one of the steps set out in regulation 14.
2 Regulation 8 applies to such a person for the period determined in accordance with regulation 17.

10 Conditions to be satisfied for regulation 8 to apply

The conditions are that, immediately before IP completion day, the person—
a is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act, F10...
b is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of that Act,and
c is not a Gibraltar firm.

CHAPTER 3 Temporary variation to carry on additional regulated activity

C211 Deemed variation under Part 4A of the Financial Services and Markets Act 2000

1 A person to whom this regulation applies shall be treated as if the person's permission to carry on a regulated activity in the United Kingdom under Part 4A of the 2000 Act were varied.
2 The variation is that the regulated activity the person is permitted to carry on includes one which, immediately before IP completion day, the person is authorised to carry on in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act.
3 Reference in an enactment to a person's permission under Part 4A of the 2000 Act (however expressed) is to be read, unless the contrary intention appears, as including a regulated activity which is included in the person's permission by virtue of this regulation.
4 Accordingly, a power of a regulator under the 2000 Act is exercisable in respect of such a person, and a regulated activity the person is permitted to carry on by virtue of this regulation, as it is in respect of the person, and a regulated activity the person is, immediately before IP completion day, permitted to carry on by virtue of Part 4A of that Act.
5 Such a power is exercisable in relation to, in particular—
a the variation or cancellation of a permission to carry on a regulated activity, or
b the imposition of requirements, prohibitions or restrictions on a person who has such a permission.

12 Application of regulation 11

1 Regulation 11 applies to a person who—
a satisfies the conditions in regulation 13, and
b has taken one of the steps set out in regulation 14.
2 Regulation 11 applies to such a person for the period determined in accordance with regulation 17.

13 Conditions to be satisfied for regulation 11 to apply

The conditions are that, immediately before IP completion day, the person—
a is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act, F12...
b is also authorised to carry on a regulated activity by virtue of section 31(1)(a) of that Act, and
c is not a Gibraltar firm.

CHAPTER 4 Temporary permission and variation: procedure, etc.

14 Steps to be taken before IP completion day: application or notification

1 For the purposes of regulations 9(1)(b) and 12(1)(b), the steps are that the person has, before IP completion day—
a made an application—
i in the case of a person who satisfies the conditions in regulation 10, for permission under Part 4A of that Act, or
ii in the case of a person who satisfies the conditions in regulation 13, for a variation of such a permission,
which has, immediately before IP completion day, not been withdrawn by the person or determined by a regulator in accordance with section 55V of that Act, or
b notified the relevant regulator that the person wishes to be treated in accordance with regulation 8 or 11.
2 For the purposes of paragraph (1)(b), the notification must—
a be made in such manner, and during such period, and
b contain, or be accompanied by, such information,
as the relevant regulator may direct.

15 Regulator's response

1 In the case of an application referred to in regulation 14(1)(a), the relevant regulator must—
a if it considers that—
i the requirements of section 55U of the 2000 Act (applications under Part 4A: procedure) are satisfied, or
ii the requirements of that section are satisfied with the exception of those provided by subsection (4), and it would not be practicable for the applicant to comply with the requirements of that subsection before IP completion day,
confirm in writing to the person making the application that regulation 8 or 11 is to apply;
b if it considers otherwise, confirm in writing to the person making the application that regulation 8 or 11 is not to apply, giving details of the requirements that are not satisfied.
2 In the case of a notification referred to in regulation 14(1)(b)—
a if the relevant regulator has not made a direction under regulation 14(2), the relevant regulator must confirm in writing to the person submitting the notification that regulation 8 or 11 is to apply;
b if the relevant regulator has made a direction under regulation 14(2), paragraph (3) applies.
3 Where this paragraph applies, the relevant regulator must—
a if it considers that—
i the notification is made in accordance with the direction, or
ii the notification is not made in accordance with the direction, and it would not be practicable for the applicant to comply with the direction before IP completion day,
confirm in writing to the person submitting the notification that regulation 8 or 11 is to apply;
b if it considers otherwise, confirm in writing to the person submitting the notification that regulation 8 or 11 is not to apply, giving details of the direction that has not been complied with.

16 Further information to be supplied by a person to whom regulation 8 or 11 applies

1 A person to whom regulation 8 or 11 applies must notify the relevant regulator if—
a any information contained in or accompanying a notification submitted in accordance with regulation 14(1)(b) changes, or
b an authorisation by a home state regulator is cancelled or varied.
2 For the purposes of paragraph (1), the notification must—
a be made in such manner, and during such period, and
b contain, or be accompanied by, such information,
as the relevant regulator may direct.

CHAPTER 5 Temporary permission and variation: duration

17 Period during which regulation 8 or 11 is to apply

1 For the purposes of regulations 9(2) and 12(2), the period is one that begins with IP completion day and ends—
a after three years beginning with the day on which IP completion day occurs, or
b if earlier, with a day determined in accordance with paragraph (3), (5) or (7).
2 Paragraph (3) applies where a regulator makes a determination under section 55V in respect of an application—
a in the case of a person to whom regulation 8 applies, for a permission or cancellation of a permission under Part 4A of the 2000 Act, or
b in the case of a person to whom regulation 11 applies, for a variation or cancellation of such a permission.
3 Where this paragraph applies—
a if the application is granted, the day referred to in paragraph (1)(b) is the day before the date stated in the written notice (issued in accordance with section 55V(5) of the 2000 Act) as that from which permission, variation or cancellation has effect;
b if the application for a permission or variation is refused, the day referred to in paragraph (1)(b) is the day before the day stated in the decision notice (issued in accordance with section 55X(4A) of the 2000 Act) as that on which regulation 8 or 11 ceases to apply.
4 Paragraph (5) applies where a regulator exercises its power to cancel the Part 4A permission of a person to whom regulation 8 or 11 applies under section 55J of the 2000 Act.
5 Where this paragraph applies, the day referred to in paragraph (1)(b) is the day before the day stated in the decision notice (issued in accordance with section 55Z(3) of the 2000 Act) as that on which regulation 8 or 11 ceases to apply.
6 Paragraph (7) applies where—
a a regulator exercises its power to vary the Part 4A permission of a person to whom regulation 11 applies under section 55J of the 2000 Act, and
b as a result of the variation, there are no longer any regulated activities for which the person is treated as having permission by virtue of regulation 11.
7 Where this paragraph applies, the day referred to in paragraph (1)(b) is the day before the day stated in the written notice (issued in accordance with section 55Y(4) of the 2000 Act) as that on which a variation takes effect.
8 For the purposes of this regulation, a reference to an application for permission includes a reference to an application for a variation that is treated as an application for permission by virtue of section 55H(8) or 55I(9) of the 2000 Act.

CHAPTER 6 Savings

18 Requirements imposed by a domestic regulator

1 A requirement imposed by a regulator in accordance with section 196 of the 2000 Act (power of intervention) and which has effect immediately before IP completion day continues to have effect on and after IP completion day in respect of a person to whom regulation 8 or 11 applies as if it were imposed by the regulator under—
a section 55L (imposition of requirements by FCA) of that Act, or
b section 55M (imposition of requirements by PRA) of that Act.
2 In respect of a person to whom regulation 8 or 11 applies—
a the FCA may exercise its power under section 55L(3) of the 2000 Act, and
b the PRA may exercise its power under section 55M(3) of that Act,
if it appears that, immediately before IP completion day, the circumstances set out in section 194(1)(a) or (b) of that Act are satisfied in respect of the person.
3 Paragraph (2) is without prejudice to section 55L(2) or 55M(2) of the 2000 Act.

19 Requirements imposed by a home state regulator

1 A requirement imposed by a home state regulator and which has effect immediately before IP completion day continues to have effect on and after that day in respect of a person to whom regulation 8 or 11 applies as if it were imposed by a regulator under—
a section 55L (imposition of requirements by FCA) of the 2000 Act, or
b section 55M (imposition of requirements by PRA) of that Act.
2 The requirement only has effect in so far as it could have been imposed by a regulator under those sections.

CHAPTER 7 General provision

20 Directions

The power to give directions under this Part includes the power—
a to give different directions in relation to different persons or categories of person;
b to vary or revoke a previous direction.

21 Interpretation

1 In this Part—
  • “the FCA” means the Financial Conduct Authority;
  • “home state regulator” means the competent authority of an EEA state in relation to the person concerned; and “competent authority” is construed in accordance with the EU instrument by virtue of which, immediately before IP completion day, the person derived authorisation to carry on a regulated activity in the United Kingdom;
  • “the PRA” means the Prudential Regulation Authority;
  • “regulated activity” has the same meaning as in section 22 of the 2000 Act M4.
2 A reference to the relevant regulator is, subject to a direction of the PRA or the FCA given with the consent of the other, a reference to—
a the PRA, in a case where the regulated activities to which an application or notification under regulation 14 relates consist of or include a PRA-regulated activity (within the meaning of section 22A of the 2000 Act M5);
b the FCA, in any other case.

PART 4  Transitional provision: miscellaneous

22 Persons to whom the modifications in regulations 23 to 25 apply

1 The modifications specified in regulations 23 to 25 apply—
a before IP completion day, in respect of a person who is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act;
b on and after IP completion day, in respect of a person to whom regulation 8 or 11 applies.
2 Paragraph (1)(a) only applies in respect of a person if—
a an application for permission, or for the variation of a permission, under Part 4A of the 2000 Act—
i is made by the person on or after the day on which this regulation comes into force, or
ii is made by the person before the day on which this regulation comes into force and has not, immediately before that day, been determined by a regulator in accordance with section 55V of that Act, and
b the application is in respect of carrying on a regulated activity, on or after IP completion day, that the person is authorised to carry on by virtue of section 31(1)(b) or (c) of that Act.

23 Performance of regulated activities - modifications of Part 5 of the Financial Services and Markets Act 2000

1 Part 5 of the Financial Services and Markets Act 2000 (performance of regulated activities) is modified as follows.
2 That Part has effect as if, after section 59 (approval for particular arrangements), there were inserted—
3 Section 61 (controlled functions: determination of applications) has effect as if, for subsection (3A)(a), there were substituted—
.
4 Section 62 (applications for approval: procedure and right to refer to Tribunal) has effect as if—
a after subsection (1), there were inserted—
b after subsection (3), there were inserted—
5 Section 63 (withdrawal of approval) has effect as if, after subsection (4), there were inserted—

I324 Financial Services Compensation Scheme - modifications of Part 15 of the Financial Services and Markets Act 2000

1 Part 15 of the Financial Services and Markets Act 2000 (Financial Services Compensation Scheme) is modified as follows.
2 Section 213 (the compensation scheme) has effect as if—
a after subsection (4), there were inserted—
;
b after subsection (9), there were inserted—
3 Section 224 (scheme manager's power to inspect documents held by Official Receiver, etc.) has effect as if, after subsection (3), there were inserted—

25 Insurance and reinsurance - modification of Part 4 of the Solvency 2 Regulations 2015

1 The Solvency 2 Regulations 2015 M6 (approvals) are modified as follows.
2 Regulation 48 (models) has effect as if, in paragraph (4), for the words from “six months” to the end there were substituted “ three years beginning with the day on which IP completion day occurs. ”
3 Part 4 has effect as if, after Chapter 2, there were inserted—
4 Regulation 55 (decisions: written notices) has effect as if, after paragraph (2), there were inserted—

26 Persons who cease to be authorised to carry on a regulated activity before IP completion day

1 The modifications specified in paragraphs (2) and (3) apply in respect of a person to whom, before IP completion day, regulation 22(1)(a) ceases to apply.
2 Section 61 of the 2000 Act (determination of applications) has effect as if, for subsection (3A)(a), there were substituted—
.
3 Regulation 48 of the Solvency 2 Regulations 2015 (models) has effect as if, in paragraph (4), for the words from “its receipt” to the end there were substituted “ the day on which regulation 22(1)(a) ceased to apply in respect of the applicant. ”

PART 5  Power to amend time limits

27 Power to amend time limits imposed by modifications under Parts 3 and 4 of these Regulations

1 The Treasury may by regulations made by statutory instrument amend—
a regulation 6(7)(a) and (b) to extend the period during which an application under section 55V of the 2000 Act must be determined,
b regulation 17(1)(a) to extend the period during which regulation 8 or 11 applies, and
c regulation 25(2) to extend the period during which an application under regulation 48 of the Solvency 2 Regulations 2015 must be determined,
if the Treasury considers it necessary to do so.
2 The Treasury may only make regulations under paragraph (1) if, no later than six months before the end of the period to be extended, the Financial Conduct Authority and the Prudential Regulation Authority have submitted to the Treasury a joint assessment as to the effect of extending, and not extending, the period on—
a persons (in general) to whom regulation 8 or 11 applies,
b the UK financial system (within the meaning of section 1I of the 2000 Act M7), and
c the ability of the Financial Conduct Authority and Prudential Regulation Authority to discharge their functions in a way that advances their objectives under Part 1A of the 2000 Act M8.
3 Regulations under paragraph (1) may not extend the period for the time being by more than 12 months.
4 Regulations under paragraph (1) may make consequential amendments to regulation 6(7)(c), (8) and (9), regulation 23(2) and regulation 25(4).
5 A statutory instrument which contains regulations under paragraph (1) is subject to annulment in pursuance of a resolution of either House of Parliament.

PART 6 Transitional and saving provision: limited permission to carry on a regulated activity

CHAPTER 1 Temporary limited permission to carry on a regulated activity

C328 Deemed permission under Part 4A of the Financial Services and Markets Act 2000

1 A person to whom this regulation applies shall be treated as if the person has permission to carry on a regulated activity in the United Kingdom under Part 4A of the 2000 Act.
2 The regulated activity a person is permitted to carry on by virtue of this regulation is one specified (by reference to regulations 30 to 32) in regulation 33.
3 Reference in an enactment to a person with permission under Part 4A of the 2000 Act (however expressed) is to be read, unless the contrary intention appears, as including a person treated as having permission to carry on a regulated activity under that Part by virtue of this regulation.
4 Accordingly, a power of a regulator under the 2000 Act is exercisable in respect of such a person, and a regulated activity the person is permitted to carry on by virtue of this regulation, as it is in respect of a person with permission under Part 4A of that Act, and a regulated activity the person is permitted to carry on by virtue of Part 4A of that Act.
5 Such a power is exercisable in relation to, in particular—
a the variation or cancellation of a permission to carry on a regulated activity, or
b the imposition of requirements, prohibitions or restrictions on a person who has such a permission.

29 Application of regulation 28

1 Regulation 28 applies to a person who—
a is authorised, under the law of the person’s home state, to carry on an activity which is regulated by the person’s home state regulator, and
b satisfies the conditions in regulation 30, 31 or 32.
2 If a person satisfies the conditions in regulation 31, a regulator may direct that, nevertheless, regulation 28 does not apply to the person.
3 Regulation 28 applies to a person for the period determined in accordance with regulation 41.

30 Conditions to be satisfied for regulation 28 to apply: persons who cease to be authorised on IP completion day

1 The conditions are that the person is one—
a who, immediately before IP completion day—
i is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act, and
ii is carrying on such an activity or, subject to paragraph (3), providing a payment service in the United Kingdom through an establishment in the United Kingdom,
aa who is not a Gibraltar firm,
b who, immediately before IP completion day, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act,
c who, on IP completion day, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act, and
d to whom, on IP completion day, regulation 8 does not apply.
2 In this regulation—
a reference to carrying on a regulated activity at a particular time includes where the performance of a pre-existing contract requires, or may require, a regulated activity to be carried on at another time;
b reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 28.
3 The reference to providing a payment service in paragraph (1)(a)(ii) applies only to a credit institution which was providing the service through an establishment in the United Kingdom immediately before IP completion day in accordance with the exercise of an EEA passport right under Title 5 of Directive 2013/36/EU as in force immediately before IP completion day.

31 Conditions to be satisfied for regulation 28 to apply: persons to whom regulation 8 ceases to apply

1 The conditions are that the person is one—
a to whom regulation 8 ceases to apply, in accordance with regulation 17,
b who, immediately before that regulation ceases to apply, is carrying on a regulated activity in the United Kingdom, and
c who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act.
2 In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 28.

32 Conditions to be satisfied for regulation 28 to apply: persons to whom regulation 47 ceases to apply

1 The conditions are that the person is one—
a to whom regulation 47 ceases to apply, in accordance with regulation 55,
b who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act, and
c who is the subject of a direction under regulation 55(1)(b).
2 In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 28.

33 Regulated activities to which regulation 28 applies

1 A regulated activity a person is permitted to carry on by virtue of regulation 28 is one—
a which is necessary for the performance of a pre-existing contract,
b which is a carried on for the purposes of performing such a contract, and
c to which paragraph (2) applies.
2 This paragraph applies to a regulated activity—
a in the case of a person who satisfies the conditions in regulation 30, which the person is, immediately before IP completion day, authorised to carry on in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act;
b in the case of a person who satisfies the conditions in regulation 31, which the person is, immediately before the day on which regulation 8 ceases to apply, permitted to carry on in the United Kingdom by virtue of that regulation;
c in the case of a person who satisfies the conditions in regulation 32, in respect of which the person is, immediately before regulation 47 ceases to apply, an exempt person by virtue of that regulation.
3 For the purposes of paragraph (1), the performance of a pre-existing contract includes the performance of an obligation under the contract which is contingent or conditional.
4 The person is also permitted to carry on a regulated activity which is necessary—
a for the purposes of reducing the financial risk of—
i a party to a pre-existing contract, or
ii a third-party affected by the performance of a pre-existing contract;
b in order to transfer the property, rights or liabilities under a pre-existing contract to a person authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act (other than by virtue of these Regulations);
c in order to comply with a requirement imposed by or under an enactment.
5 A person is only permitted to carry on a regulated activity in so far as is necessary for the purposes specified in paragraph (1) or (3).
6 This regulation is subject to the power of a regulator to vary or cancel a permission under Part 4A of the 2000 Act.

CHAPTER 2 Temporary limited variation to carry on additional regulated activity

C434 Deemed variation under Part 4A of the Financial Services and Markets Act 2000

1 A person to whom this regulation applies shall be treated as if the person’s permission to carry on a regulated activity in the United Kingdom under Part 4A of the 2000 Act were varied.
2 The variation is that the regulated activity the person is permitted to carry on includes one specified (by reference to regulations 36 to 39) in regulation 40.
3 Reference in an enactment to a person’s permission under Part 4A of the 2000 Act (however expressed) is to be read, unless the contrary intention appears, as including a regulated activity which is included in the person’s permission by virtue of this regulation.
4 Accordingly, a power of a regulator under the 2000 Act is exercisable in respect of such a person, and a regulated activity the person is permitted to carry on by virtue of this regulation, as it is in respect of the person, and a regulated activity the person is, immediately before IP completion day, permitted to carry on by virtue of Part 4A of that Act.
5 Such a power is exercisable in relation to, in particular—
a the variation or cancellation of a permission to carry on a regulated activity, or
b the imposition of requirements, prohibitions or restrictions on a person who has such a permission.

35 Application of regulation 34

1 Regulation 34 applies to a person who—
a is authorised, under the law of the person’s home state, to carry on an activity which is regulated by the person’s home state regulator, F15...
b satisfies the conditions in regulation 36, 37, 38 or 39, and
c is not a Gibraltar firm.
2 If a person satisfies the conditions in regulation 37, 38 or 39, a regulator may direct that, nevertheless, regulation 34 does not apply to the person.
3 Regulation 34 applies to a person for the period determined in accordance with regulation 41.

36 Conditions to be satisfied for regulation 34 to apply: persons who cease to be authorised on IP completion day

1 The conditions are that the person is one—
a who, immediately before IP completion day—
i is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act, and
ii is carrying on such an activity or, subject to paragraph (3), providing a payment service in the United Kingdom, whether through an establishment in the United Kingdom or otherwise,
b who, immediately before IP completion day, is also authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act,
c to whom, on IP completion day, regulation 11 does not apply, and
d who, on IP completion day, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act, in respect of the regulated activities which, immediately before that day, the person is carrying on by virtue of section 31(1)(b) or (c) of the 2000 Act.
2 In this regulation—
a reference to carrying on a regulated activity at a particular time includes where the performance of a pre-existing contract requires, or may require, a regulated activity to be carried on at another time;
b reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 34.
3 The reference to providing a payment service in paragraph (1)(a)(ii) applies only to a credit institution which was providing the service in the United Kingdom immediately before IP completion day in accordance with the exercise of an EEA passport right under Title 5 of Directive 2013/36/EU as in force immediately before IP completion day.

37 Conditions to be satisfied for regulation 34 to apply: persons to whom regulation 8 ceases to apply

1 The conditions are that the person is one—
a to whom regulation 8 ceases to apply, in accordance with regulation 17,
b who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act that the person is, immediately before that regulation ceases to apply, permitted to carry on by virtue of that regulation,
c who, immediately before that regulation ceases to apply, is carrying on a regulated activity in the United Kingdom which is not, immediately after that regulation ceases to apply, a regulated activity the person is authorised to carry on by virtue of section 31(1)(a) of the 2000 Act, and
d who, on that regulation ceasing to apply, is authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act.
2 In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 34.

38 Conditions to be satisfied for regulation 34 to apply: persons to whom regulation 11 ceases to apply

1 The conditions are that the person is one—
a to whom regulation 11 ceases to apply, in accordance with regulation 17,
b who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act that the person is, immediately before that regulation ceases to apply, permitted to carry on by virtue of that regulation, and
c who, immediately before that regulation ceases to apply, is carrying on a regulated activity in the United Kingdom which is not, on that regulation ceasing to apply, a regulated activity the person is authorised to carry on by virtue of section 31(1)(a) of the 2000 Act.
2 In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 34.

39 Conditions to be satisfied for regulation 34 to apply: persons to whom regulation 28 ceases to apply

1 The conditions are that the person is one—
a to whom regulation 28 ceases to apply, in accordance with regulation 41(3),
b who, immediately before that regulation ceases to apply, is carrying on a regulated activity in the United Kingdom which is not, immediately after that regulation ceases to apply, a regulated activity the person is authorised to carry on by virtue of section 31(1)(a) of the 2000 Act, and
c who, on that regulation ceasing to apply, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act that the person is, immediately before that regulation ceases to apply, permitted to carry on by virtue of that regulation.
2 In this regulation, reference to authorisation to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act does not include such an authorisation by virtue of regulation 34.

40 Regulated activities to which regulation 34 applies

1 A regulated activity included in those which a person is permitted to carry on by virtue of regulation 34 is one—
a which is necessary for the performance of a pre-existing contract,
b which is a carried on for the purposes of performing such a contract,
b which is not a regulated activity the person is authorised to carry on by virtue of section 31(1)(a) of the 2000 Act, and
c to which paragraph (2) applies.
2 This paragraph applies to a regulated activity—
a in the case of a person who satisfies the conditions in regulation 36, which the person is, immediately before IP completion day, authorised to carry on in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act;
b in the case of a person who satisfies the conditions in regulation 37, which the person is, immediately before the day on which regulation 8 ceases to apply, permitted to carry on in the United Kingdom by virtue of that regulation;
c in the case of a person who satisfies the conditions in regulation 38, which the person is, immediately before the day on which regulation 11 ceases to apply, permitted to carry on in the United Kingdom by virtue of that regulation;
d in the case of a person who satisfies the conditions in regulation 39, which the person is, immediately before the day on which regulation 28 ceases to apply, permitted to carry on in the United Kingdom by virtue of that regulation.
3 For the purposes of paragraph (1), the performance of a pre-existing contract includes the performance of an obligation under the contract which is contingent or conditional.
4 The person is also permitted to carry on a regulated activity which is necessary—
a for the purposes of reducing the financial risk of—
i a party to a pre-existing contract, or
ii a third-party affected by the performance of a pre-existing contract;
b in order to transfer the property, rights or liabilities under a pre-existing contract to a person authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act (other than by virtue of these Regulations);
c in order to comply with a requirement imposed by or under an enactment.
5 A person is only permitted to carry on a regulated activity in so far as is necessary for the purposes specified in paragraph (1) or (3).
6 This regulation is subject to the power of a regulator to vary or cancel a permission under Part 4A of the 2000 Act.

CHAPTER 3 Temporary limited permission and variation: duration

41 Period during which regulation 28 or 34 is to apply

1 For the purposes of regulations 29(3) and 35(3), the period is one that begins with the relevant day and ends—
a in so far as a regulated activity a person is permitted to carry on by virtue of regulation 28 or 34 is carried on for—
i the purpose of performing a contract of insurance, after fifteen years, or
ii any other purpose, after five years,
beginning with the earlier of the day on which regulation 28, 34 or 47, as applicable, first applies to the person, or
b if earlier—
i for the purposes of regulation 29(3), with a day determined in accordance with paragraph (3) or (7);
ii for the purposes of regulation 35(3), with a day determined in accordance with paragraph (5), (7) or (9);
iii for the purposes of regulations 29(3) and 35(3), with the day before the day on which the person ceases to be authorised, under the law of the person’s home state, to carry on an activity which is regulated by the person’s home state regulator.
2 Paragraph (3) applies where a regulator makes a determination under section 55V to grant an application by a person to whom regulation 28 applies, for a permission or cancellation of a permission under Part 4A of the 2000 Act.
3 Where this paragraph applies, the day referred to in paragraph (1)(b)(i) is the day before the date stated in the written notice (issued in accordance with section 55V(5) of the 2000 Act) as that from which permission or cancellation has effect.
4 Paragraph (5) applies where a regulator makes a determination under section 55V to grant an application by a person to whom regulation 34 applies—
a for a variation of a permission under Part 4A of the 2000 Act and, as a result of the variation, there are no longer any regulated activities for which the person is treated as having permission by virtue of regulation 34, or
b for a cancellation of such a permission.
5 Where this paragraph applies, the day referred to in paragraph (1)(b)(ii) is the day before the date stated in the written notice (issued in accordance with section 55V(5) of the 2000 Act) as that from which permission, variation or cancellation has effect.
6 Paragraph (7) applies where a regulator exercises its power to cancel the Part 4A permission of a person to whom regulation 28 or 34 applies under section 55J or 55JA of the 2000 Act.
7 Where this paragraph applies, the day referred to in paragraph (1)(b) is the day on which the person is given a decision notice (issued in accordance with section 55Z(3) of the 2000 Act).
8 Paragraph (9) applies where—
a a regulator exercises its power to vary the Part 4A permission of a person to whom regulation 34 applies under section 55J of the 2000 Act, and
b as a result of the variation, there are no longer any regulated activities for which the person is treated as having permission by virtue of regulation 34.
9 Where this paragraph applies, the day referred to in paragraph (1)(b)(ii) is the day before the day stated in the written notice (issued in accordance with section 55Y(4) of the 2000 Act) as that on which a variation takes effect.
10 For the purposes of this regulation, a reference to an application for permission includes a reference to an application for a variation that is treated as an application for permission by virtue of section 55H(8) or 55I(9) of the 2000 Act.

CHAPTER 4 Modifications of the Financial Services and Markets Act 2000

42 Modifications of Part 2 of the Financial Services and Markets Act 2000

In respect of a person to whom regulation 28 or 34 applies, section 21 of the 2000 Act (restrictions on financial promotion) has effect as if—
a in subsection (2), paragraph (b), were omitted;
b after that subsection there were inserted—

43 Modifications of Part 4A of the Financial Services and Markets Act 2000

1 In respect of a person to whom regulation 28 or 34 applies, Part 4A of the 2000 Act (permission to carry on regulated activities) is modified as follows.
2 Section 55A (application for permission) has effect as if—
a in subsection (2), after “subsection (2B)” there were inserted “and to a direction of the PRA or the FCA given with the consent of the other”;
b in subsection (3), after “is in force” there were inserted “, other than a person who is treated as having such a permission by virtue of regulation 28 or 34 of the 2018 Regulations,”.
3 Section 55H (variation by FCA at request of authorised person) has effect as if, after subsection (7), there were inserted—
4 Section 55I (variation by PRA at request of authorised person) has effect as if, after subsection (8), there were inserted—
5 Part 4A has effect as if, after section 55J (variation or cancellation on initiative of regulator), there were inserted—
6 Section 55Z (cancellation of Part 4A permission: procedure) has effect as if, after subsection (2), there were inserted—
7 Section 55Z4 (interpretation of Part 4A) has effect as if, at the appropriate place, there were inserted—
.

CHAPTER 5 Savings

44 Requirements imposed by a domestic regulator

1 Paragraphs (2) to (4) apply in respect of a person to whom regulation 28 or 34 applies by virtue of the conditions in regulation 30 or 36.
2 A requirement imposed by a regulator in accordance with section 196 of the 2000 Act (power of intervention) and which has effect immediately before the relevant day continues to have effect on and after the relevant day as if it were imposed by the regulator under—
a section 55L (imposition of requirements by FCA) of that Act, or
b section 55M (imposition of requirements by PRA) of that Act.
3 If it appears that, immediately before the relevant day, the circumstances set out in section 194(1)(a) or (b) of the 2000 Act are satisfied in respect of the person—
a the FCA may exercise its power under section 55L(3) of that Act, and
b the PRA may exercise its power under section 55M(3) of that Act.
4 Paragraph (2) is without prejudice to section 55L(2) or 55M(2) of the 2000 Act.
5 Paragraph (6) applies in respect of a person to whom regulation 28 or 34 applies by virtue of the conditions in regulation 31, 37, 38 or 39.
6 A requirement imposed, or which has effect as if it were imposed, by a regulator under—
a section 55L (imposition of requirements by FCA) of that Act, or
b section 55M (imposition of requirements by PRA) of that Act,
and which has effect immediately before the relevant day, continues to have effect on and after the relevant day as if it were imposed by the regulator under that section.

45 Requirements imposed by a home state regulator

1 This regulation applies in respect of a person to whom regulation 28 or 34 applies by virtue of the conditions in regulation 30 or 36.
2 A requirement imposed by a home state regulator and which has effect immediately before IP completion day continues to have effect on and after that day as if it were imposed by a regulator under—
a section 55L (imposition of requirements by FCA) of the 2000 Act, or
b section 55M (imposition of requirements by PRA) of that Act.
3 The requirement only has effect in so far as it could have been imposed by a regulator under those sections.

CHAPTER 6 Interpretation of Part 6

46 Interpretation

For the purpose of this Part—
  • “contract of insurance” has the same meaning as in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;
  • “establishment” means a branch;
  • “home state regulator” has the meaning given by regulation 21;
  • “payment service” has the same meaning as in regulation 2 of the Payment Services Regulations 2017;
  • “pre-existing contract” means a contract entered into before—
    1. in the case of a person who satisfies the conditions in regulation 32 or 39, the earlier of—
      1. the day on which regulation 47 first applies to the person, or
      2. where applicable, the day on which regulation 28 or 34 first applies to the person;
    2. in any other case, the relevant day;
  • “regulated activity” has the same meaning as in section 22 of the 2000 Act;
  • “regulator” means the Financial Conduct Authority or the Prudential Regulation Authority;
  • “relevant day” means—
    1. in the case of a person who satisfies the conditions in regulation 30 or 36, IP completion day;
    2. in the case of a person who satisfies the conditions in regulation 31 or 37, the day on which regulation 8 ceases to apply;
    3. in the case of a person who satisfies the conditions in regulation 32, the earlier of—
      1. the day on which regulation 47 first applies to the person, or
      2. where applicable, the day on which regulation 28 or 34 first applies to the person;
    4. in the case of a person who satisfies the conditions in regulation 38, the day on which regulation 11 ceases to apply;
    5. in the case of a person to whom regulation 39 applies, the earlier of—
      1. the day on which regulation 28 or 34 first applies to the person, or
      2. where applicable, the day on which regulation 47 first applies to the person.

PART 7 Transitional and saving provision: exemption from the general prohibition

CHAPTER 1 Exemption from the general prohibition

C547 Exemption from the general prohibition under Part 2 of the Financial Services and Markets Act 2000

1 A person to whom this regulation applies is an exempt person for the purposes of section 19(1)(b) of the 2000 Act (the general prohibition).
2 The exemption has effect only in respect of a regulated activity specified (by reference to regulations 49 to 51) in regulation 52.

48 Application of regulation 47

1 Regulation 47 applies to a person who—
a is authorised, under the law of the person’s home state, to carry on an activity which is regulated by the person’s home state regulator, and
b satisfies the conditions in regulation 49, 49A, 50 or 51.
2 Regulation 47 applies to such a person for the period determined in accordance with regulation 66.

49 Conditions to be satisfied for regulation 47 to apply: persons who cease to be authorised on IP completion day

The conditions are that the person is one—
a who, immediately before IP completion day—
i is authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act, and
ii is carrying on such an activity or, subject to paragraph (3), providing a payment service in the United Kingdom other than through an establishment in the United Kingdom,
aa who is not a Gibraltar firm,
b who, on IP completion day, is not authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act, and
c to whom regulation 8 does not apply.
2 In this regulation, reference to carrying on a regulated activity at a particular time includes where the performance of a pre-existing contract requires, or may require, a regulated activity to be carried on at another time.
3 The reference to providing a payment service in paragraph (a)(ii) applies only to a credit institution which was providing the service in the United Kingdom immediately before IP completion day in accordance with the exercise of an EEA passport right under Title 5 of Directive 2013/36/EU as in force immediately before IP completion day.

50 Conditions to be satisfied for regulation 47 to apply: persons to whom regulation 28 ceases to apply

The conditions are that the person is one—
a to whom regulation 28 ceases to apply, in accordance with regulation 41(7),
b who, on regulation 28 ceasing to apply, is not authorised by virtue of section 31(1)(a) of the 2000 Act to carry on a regulated activity to which, immediately before regulation 28 ceases to apply, the person is permitted to carry on by virtue of that regulation,
c who, immediately before regulation 28 ceases to apply, is carrying on such an activity in the United Kingdom other than through an establishment in the United Kingdom, and
d who is the subject of a direction under section 55JA of the 2000 Act (inserted by regulation 43 in respect of persons to whom regulation 28 or 24 applies).

51 Conditions to be satisfied for regulation 47 to apply: persons to whom regulation 34 ceases to apply

The conditions are that the person is one—
a to whom regulation 34 ceases to apply, in accordance with regulation 41(5), (7) or (9),
b who, on regulation 34 ceasing to apply, is not authorised by virtue of section 31(1)(a) of the 2000 Act to carry on a regulated activity which, immediately before regulation 34 ceases to apply, the person is permitted to carry on by virtue of that regulation,
c who, immediately before regulation 34 ceases to apply, is carrying on such an activity in the United Kingdom other than through an establishment in the United Kingdom, and
d who is the subject of a direction under section 55JA of the 2000 Act (inserted by regulation 43 in respect of persons to whom regulation 28 or 24 applies).

52 Regulated activities to which regulation 47 has effect

1 A regulated activity in respect of which the exemption in regulation 47 has effect is one—
a which is necessary for the performance of a pre-existing contract,
b which is a carried on for the purposes of performing such a contract,
c which is not a regulated activity the person is authorised to carry on by virtue of section 31(1)(a) of the 2000 Act,
d which is an activity which, if carried on in the person’s home state—
i would need authorisation by the person’s home state regulator, and
ii is authorised by the person’s home state regulator, and
e to which paragraph (2) applies.
2 This paragraph applies to a regulated activity—
a in the case of a person who satisfies the conditions in regulation 49, which the person is, immediately before IP completion day, authorised to carry on in the United Kingdom by virtue of section 31(1)(b) or (c) of the 2000 Act;
b in the case of a person who satisfies the conditions in regulation 50, which the person is, immediately before the day on which regulation 28 ceases to apply, permitted to carry on in the United Kingdom by virtue of that regulation;
c in the case of a person who satisfies the conditions in regulation 51, which the person is, immediately before the day on which regulation 34 ceases to apply, permitted to carry on in the United Kingdom by virtue of that regulation.
3 For the purposes of paragraph (1), the performance of a pre-existing contract includes the performance of an obligation under the contract which is contingent or conditional.
4 The person is also exempt in respect of a regulated activity which is necessary—
a for the purposes of reducing the financial risk of—
i a party to a pre-existing contract, or
ii a third-party affected by the performance of a pre-existing contract;
b in order to transfer the property, rights or liabilities under a pre-existing contract to a person authorised to carry on a regulated activity by virtue of section 31(1)(a) of the 2000 Act (other than by virtue of these Regulations);
c in order to comply with a requirement imposed by or under an enactment.
5 A person is only exempt in respect of a regulated activity in so far as is necessary for the purposes specified in paragraph (1) or (3).

CHAPTER 2 Exemption from the general prohibition: procedure, etc.

53 Notification by a person to whom regulation 47 applies

1 A person—
a to whom regulation 47 applies, and
b who satisfies the conditions in regulation 49,
must, as soon as reasonably practicable following the relevant day, notify the FCA that the person is carrying on a regulated activity in the United Kingdom.
2 For the purposes of paragraph (1), the notification must—
a be made in such manner, and
b contain, or be accompanied by, such information,
as the FCA may direct.

54 Information to be supplied by a person to whom regulation 47 applies

1 A person to whom regulation 47 applies must notify the relevant regulator if—
a an authorisation by a home state regulator is varied, or is to be varied;
b an authorisation by a home state regulator is to be cancelled;
c the person becomes the subject of a criminal investigation or criminal proceedings;
d the person is one in relation to whom an insolvency event occurs.
2 A notification under paragraph (1) must be made as soon as reasonably practicable following the day on which it comes to the person’s attention that an event referred to in that paragraph has occurred.
3 For the purposes of paragraph (1), the notification must—
a be made in such manner, and during such period, and
b contain, or be accompanied by, such information,
as the relevant regulator may direct.
4 In this regulation, “insolvency event” means—
a in respect of persons to whom Directive 2001/24/EC of the European Parliament and of the Council of 4th April 2001 on the reorganisation and winding up of credit institutions, the commencement of winding-up proceedings (within the meaning of Article 2 of that Directive);
b in respect of persons to whom Directive 2009/138/EC of the European Parliament and of the Council of 25th November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance applies, the commencement of winding-up proceedings (within the meaning of Article 268 of that Directive);
c in respect of other persons, the commencement of insolvency proceedings (within the meaning of Article 2 of Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings).
5 In this regulation, reference to the relevant regulator is, subject to a direction of the PRA or the FCA given with the consent of the other, a reference to—
a the PRA, in a case where the regulated activities to which regulation 47 has effect consist of or include a PRA-regulated activity (within the meaning of section 22A of the 2000 Act);
b the FCA, in any other case.

54A Information to be supplied to a party to a contract with a person to whom regulation 47 applies

1 A person to whom regulation 47 applies must notify each party to a pre-existing contract with the person that the person is—
a an exempt person for the purposes of section 19(1)(b) of the 2000 Act, and
b not regulated by the FCA or the PRA.
2 The notification must be made as soon as reasonably practicable following the day on which regulation 47 first applies to the person.
3 A person to whom regulation 47 applies must notify each party to a pre-existing contract with the person if there is a material change, on or after IP completion day, in respect of—
a the protection afforded to assets held by the person in relation to the performance of the contract,
b the mechanisms for resolving disputes in connection with the contract, or
c the schemes available for compensation in relation to the contract.
4 The relevant regulator may issue guidance in respect of compliance with an obligation under this regulation.
5 For the purposes of paragraph (4), reference to the relevant regulator is a reference to—
a the FCA;
b in a case where the regulated activities to which regulation 47 has effect consist of or include a PRA-regulated activity (within the meaning of section 22A of the 2000 Act), the PRA.

CHAPTER 3 Exemption from the general prohibition: regulation

55 Variation and cancellation of an exemption under regulation 47

1 In respect of a person to whom regulation 47 applies, a regulator may—
a remove a regulated activity from those in respect of which the exemption has effect,
b cancel the exemption and direct that regulation 28 is to apply to the person, or
c cancel the exemption.
2 A regulator may only exercise the power in paragraph (1)(a) or (c), if it considers that the exercise of the power is necessary—
a for the prevention, detection, investigation or prosecution of a criminal offence;
b for the protection of consumers;
c in order for the regulator to advance its objectives under Part 1A of the 2000 Act.
3 In exercising the power in paragraph (1)(b), the regulator must take into account—
a the person’s conduct,
b the practicality of supervision by a regulator,
c the size of the person’s undertaking, and
d the nature or extent of the regulated activity the person carries on.
4 Before exercising the power in paragraph (1)—
a the PRA must consult the FCA;
b the FCA must consult the PRA if, were the person to be an authorised person (within the meaning of section 31 of the 2000 Act), the person to whom regulation 47 applies would be carrying on one or more PRA-regulated activities (within the meaning of section 22A of the 2000 Act).

56 Variation and cancellation: procedure

1 In an urgent case, if a regulator decides to exercise the power under regulation 55(1), it must give a decision notice to the person to whom the decision relates.
2 A decision notice under paragraph (1) must state when the decision takes effect (which may be immediately upon receipt).
3 In any other case—
a if a regulator proposes to exercise the power under regulation 55(1), it must give the person a warning notice;
b if a regulator decides to exercise the power under regulation 55(1), it must give the person a decision notice.
4 Part 26 of the 2000 Act (notices) applies to a notice under paragraph (3) as it applies to a notice given under that Act.
5 For the purposes of this regulation, an urgent case is one in which the regulator reasonably considers it necessary for the decision to take effect as stated in the decision notice.

57 Variation and cancellation: appeal

1 A person in respect of whom the power under regulation 55(1) is exercised may refer the decision to exercise the power to the Upper Tribunal.
2 Part 9 of the 2000 Act (hearings and appeals) applies to a reference to the Upper Tribunal under paragraph (1) as it applies to a reference under that Act.

58 Restriction on financial promotion

In respect of a person to whom regulation 47 applies, section 21 of the 2000 Act (restrictions on financial promotion) has effect as if—
a for subsection (2) there were substituted—
b after that subsection there were inserted—

59 Product intervention rules

1 Product intervention rules (within the meaning of section 137D of the 2000 Act) apply to a person to whom regulation 47 applies as they apply to an authorised person.
2 A prohibition or restriction under Article 42 of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments applies to a person to whom regulation 47 applies as it applies to a person to whom that Regulation applies.
F803 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

60 Information gathering

The following provisions of the 2000 Act apply in respect of a person to whom regulation 47 applies, as they apply in respect of an authorised person (within the meaning of section 31 of that Act)—
a section 165 (regulators’ power to require information: authorised persons etc.);
b section 166 (reports by skilled persons);
c section 175 (information and documents: supplemental provisions);
d section 177 (offences).

61 Publication of information provided under regulation 54 or 55

1 A regulator may, if it considers it is appropriate to do so, publish information provided under regulation 53 or 54.
2 Publication under this regulation is to be in such manner as the regulator considers appropriate.

62 Public censure

1 If a regulator considers that—
a a person has not notified the FCA in accordance with regulation 53 or 54, or
b a person to whom regulation 47 applies has acted in a manner which the regulator considers contrary to the advancement of its objectives under Part 1A of the 2000 Act,
the regulator may publish a statement to that effect.
2 If a regulator proposes to publish a statement under paragraph (1), it must give the person a warning notice.
3 The warning notice about a proposal to publish a statement must set out the terms of the statement.
4 If, having considered any representations made in response to a warning notice, the regulator decides to publish a statement under paragraph (1) (whether or not in the terms proposed), it must without delay give the person a decision notice.
5 The decision notice must set out the terms of the statement.
6 Section 393 of the 2000 Act (third party rights) applies in respect of the giving of notices under this regulation as it applies in respect of the giving of notices under that Act.

CHAPTER 4 Exemption from the general prohibition: fees

63 Power to charge fees

1 A regulator may make rules providing for the payment to it of fees in connection with the discharge of a function under this Part.
2 Rules under paragraph (1) may not provide for the payment of a fee greater than an amount equal to the expenses incurred, or expected to be incurred, in the discharge of the function.
3 Sections 138F to 138O of the 2000 Act (procedural provisions) apply to rules made by a regulator under paragraph (1) as they apply to rules made by a regulator under that Act.

CHAPTER 5 Exemption from the general prohibition: regulator functions

64 Disapplication of supervision, etc., requirements

Section 1L(2) and (3) of the 2000 Act (supervision, monitoring and enforcement) does not apply in respect of a person to whom regulation 47 applies.

65 Exemption from liability in damages

A function of a regulator under this Part, not being a function under the 2000 Act which the regulator is treated as having by virtue of this Part, is to be treated—
a where the regulator is the FCA, as if it were a function of the FCA for the purposes of paragraph 25 of Schedule 1ZA of the 2000 Act (exemption from liability in damages);
b where the regulator is the PRA, as if it were a function of the PRA for the purposes of paragraph 33 of Schedule 1ZB of that Act (exemption from liability in damages).

CHAPTER 6 Exemption from the general prohibition: duration

66 Period during which regulation 47 is to apply

For the purposes of regulation 48(2), the period is one that begins with the relevant day and ends—
a in so far as a regulated activity in respect of which the exemption in regulation 47 has effect is carried on for—
i the purpose of performing a contract of insurance, after fifteen years, or
ii any other purpose, after five years,
beginning with the earlier of the day on which regulation 28, 34 or 47, as applicable, first applies to the person, or
b if earlier, with the day—
i on which a person to whom regulation 47 applies is given a decision notice in respect of a decision under regulation 55(1)(b) or (c);
ii before the day on which the person ceases to be authorised, under the law of the person’s home state, to carry on an activity which is regulated by the person’s home state regulator.

CHAPTER 7 General provision

67 Directions

The power to give directions under this Part includes the power—
a to give different directions in relation to different persons or categories of person;
b to vary or revoke a previous direction.

68 Interpretation of Part 7

For the purposes of this Part—
  • “contract of insurance” has the same meaning as in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;
  • “establishment” means a branch;
  • “the FCA” means the Financial Conduct Authority;
  • “home state regulator” has the meaning given by regulation 21;
  • “payment service” has the same meaning as in regulation 2 of the Payment Services Regulations 2017;
  • “the PRA” means the Prudential Regulation Authority;
  • “pre-existing contract”—
    1. in the case of a person who satisfies the conditions in regulation 49, means a contract entered into before IP completion day;
    2. in the case of a person who satisfies the conditions in regulation 50 or 51, has the same meaning, in respect of the person, as in Part 6;
  • “regulated activity” has the same meaning as in section 22 of the 2000 Act;
  • “regulator” means the FCA or the PRA;
  • “relevant day” means—
    1. in the case of a person who satisfies the conditions in regulation 49, IP completion day;
    2. in the case of a person who satisfies the conditions in regulation 50, the earlier of—
      1. the day on which regulation 28 first applies to the person, or
      2. where applicable, the day on which regulation 47 first applies to the person;
    3. in the case of a person who satisfies the conditions in regulation 51, the earlier of—
      1. the day on which regulation 34 first applies to the person, or
      2. where applicable, the day on which regulation 47 first applies to the person.

PART 8 Transitional provision: miscellaneous

69 Performance of regulated activities

1 In respect of a person to whom regulation 28 or 34 applies, Part 5 of the Financial Services and Markets Act 2000 (performance of regulated activities) is modified as follows.
2 That Part has effect as if, after section 59 (approval for particular arrangements), there were inserted—
3 Section 61 (controlled functions: determination of applications) has effect as if, for subsection (3A), there were substituted—
4 Section 62 (applications for approval: procedure and right to refer to Tribunal) has effect as if—
a after subsection (1), there were inserted—
b after subsection (3), there were inserted—
5 Section 63 (withdrawal of approval) has effect as if, after subsection (4), there were inserted—

I470 Financial Services Compensation Scheme: a person to whom regulation 28 or 34 applies

1 In respect of a person to whom regulation 28 or 34 applies, Part 15 of the Financial Services and Markets Act 2000 (Financial Services Compensation Scheme) is modified as follows.
2 Section 213 (the compensation scheme) has effect as if—
a after subsection (4), there were inserted—
;
b after subsection (9), there were inserted—
3 Section 224 (scheme manager’s power to inspect documents held by Official Receiver, etc.) has effect as if, after subsection (3), there were inserted—

I571 Financial Services Compensation Scheme: a person to whom regulation 47 applies

1 A person to whom regulation 47 applies and who is—
a carrying out a contract of insurance,
F74b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F74c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
shall be treated as if the person were an authorised person for the purposes of section 213 (the compensation scheme) of the 2000 Act.
2 For the purposes of paragraph (1)—
  • F75...
  • F75...
  • “contract of insurance” has the same meaning as in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;
  • F75...
  • F75...
  • F75...

72 Insurance and reinsurance - modification of Part 4 of the Solvency 2 Regulations 2015

1 In respect of a person to whom regulation 28 or 34 applies, Part 4 of the Solvency 2 Regulations 2015 (approvals) is modified as follows.
2 That Part has effect as if, after Chapter 2, there were inserted—
3 Regulation 55 (decisions: written notices) has effect as if, after paragraph (2), there were inserted—

PART 9 Power to amend the duration of transitional and saving provision under Parts 6 and 7

73 Power to amend the duration of transitional and saving provision

1 The Treasury may by regulations made by statutory instrument amend—
a regulation 41(1)(a)(i) or (ii) to extend the period during which regulation 28 or 34 is to apply, or
b regulation 67(a)(i) or (ii) to extend the period during which regulation 47 is to apply,
if the Treasury consider it necessary to do so.
2 The Treasury may only make regulations under paragraph (1) if, no later than six months before the end of the period to be extended, the Financial Conduct Authority and the Prudential Regulation Authority have submitted to the Treasury a joint assessment as to the effect of extending, and not extending, the period on—
a persons (in general) to whom regulation 28, 34 or 47 applies,
b the UK financial system (within the meaning of section 1I of the 2000 Act), and
c the ability of the Financial Conduct Authority and Prudential Regulation Authority to discharge their functions in a way that advances their objectives under Part 1A of the 2000 Act.
3 Regulations under paragraph (1) may not extend the period for the time being by more than 5 years.
4 The power to make regulations under paragraph (1) may be exercised—
a so as to make different provision for different cases or purposes;
b in relation to all or only some of the cases or purposes for which it may be exercised.
5 A statutory instrument which contains regulations under paragraph (1) is subject to annulment in pursuance of a resolution of either House of Parliament.

SCHEDULE 

Consequential amendments

Regulation 3

PART 1 The Financial Services and Markets Act 2000 (c. 8)

I71The Financial Services and Markets Act 2000 M9 is amended as follows.
I82In section 3E (memorandum of understanding) M10, omit subsection (2)(f) and (k).
I93Omit section 34 (EEA firms) M11.
I104Omit section 35 (Treaty firms) M12.
I115In section 55A (application for permission) M13, omit subsection (4).
I126In section 55Q (exercise of power in support of overseas regulator) M14, omit subsection (2).
I137In section 55R (persons connected with an applicant) M15, omit subsections (2) to (3B).
I148
1 Section 55X (determination of applications: warning notices and decision notices) M16 is amended as follows.
2 In subsection (2), omit “(unless subsection (3) applies)”.
3 Omit subsection (3).
I159In section 137A (the FCA's general rules) M17, omit subsection (5).
I1610In section 137G (the PRA's general rules) M18, omit subsection (5).
I1711In section 168 (appointment of persons to carry out investigations in particular cases) M19, in subsection (1)(b), omit “or under Schedule 4”.
I1812Omit Part 13 (incoming firms: intervention by FCA or PRA), except for, in section 195 (exercise of power in support of overseas regulator), subsections (3) and (4).
I1913Omit Part 13A (enhanced supervision of firms exercising rights under the Insurance Distribution Directive) M20.
I2014In section 213 (the compensation scheme) M21, omit subsections (10) and (11).
I2115In section 214 (provisions of the scheme: general), omit subsection (5).
I2216In section 224 (scheme manager's power to inspect documents held by Official Receiver etc.), omit subsection (4).
I2317In section 234K (duty to consider exercise of powers under Competition Act 1998) M22, in subsection (3), omit paragraph (f).
I2418In section 313D (interpretation of Part 18A) M23, in subsection (1), in the definition of “institution”, omit from “but does not include” to the end.
I2519Omit section 368 (winding-up petitions: EEA and Treaty firms) M24.
I2620
1 Section 425 (expressions relating to authorisation elsewhere in the single market) M25 is amended as follows.
2 Omit subsection (2).
3 In the heading, omit “elsewhere”.
I2721In Schedule 1ZA (the Financial Conduct Authority) M26, in Part 3 (penalties and fees), omit paragraph 24(a) (together with the final “or”).
I2822In Schedule 1ZB (the Prudential Regulation Authority) M27, in Part 3 (penalties and fees), omit paragraph 32(a) (together with the final “or”).
I2923
1 Schedule 6 (threshold conditions) is amended as follows.
2 Omit Part 1F (authorisation under Schedule 3) M28.
3 Omit Part 1G (authorisation under Schedule 4) M29.

PART 2 Other primary legislation

I3024 Agricultural Credits Act 1928 (c. 43)

In section 5 of the Agricultural Credits Act 1928 M30 (agricultural charges on farming stock and assets), in the definition of “Bank” in subsection (7), omit paragraph (c).

I3125 Solicitors Act 1974 (c. 47)

In section 87 of the Solicitors Act 1974 M31 (interpretation)—
a in the definition of “bank” in subsection (1)—
i for “, a person” substitute “ or a person ”;
ii omit from “or an EEA firm” to the end;
b in subsection (1A), omit paragraphs (c) (together with the final “or”) and (d).

I3226 Judicial Pensions Act 1981 (c. 20)

In section 33A of the Judicial Pensions Act 1981 M32 (voluntary contributions)—
a in subsection (9)—
i in the definition of “authorised provider”, omit paragraphs (b) (together with the final “or”) and (c);
ii in the definition of “insurer”, omit paragraph (b);
b omit subsections (9B) to (9E).

I3327 Administration of Justice Act 1985 (c. 61)

In section 21 of the Administration of Justice Act 1985 M33 (professional indemnity and compensation), in subsection (5), omit paragraphs (b) (together with the final “or”) and (c).

I3428 Housing Act 1985 (c. 68)

In section 622 of the Housing Act 1985 M34 (minor definitions: general), in subsection (1)—
a in the definition of “authorised deposit taker”, omit paragraph (b) and the “or” before it;
b in the definition of “authorised insurer”, omit paragraph (b) and the “or” before it;
c in the definition of “authorised mortgage lender”, omit paragraphs (b) (together with the final “or”) and (c).

I3529 Building Societies Act 1986 (c. 53)

1 The Building Societies Act 1986 M35 is amended as follows.
2 In section 9A (restrictions on certain transactions), in subsection (5), omit paragraph (b) and the “or” before it.
3 In section 98 (transfers of business: supplementary provisions), in subsection (3), omit paragraph (c)(ii) and the “or” before it.

I3630 Access to Medical Reports Act 1988 (c. 28)

In section 2 of the Access to Medical Reports Act 1988 M36 (interpretation), in the definition of “insurer” in subsection (1), omit paragraph (b).

I3731 Road Traffic Act 1988 (c. 52)

In section 95 of the Road Traffic Act 1988 M37 (notification of refusal of insurance on grounds of health), in subsection (3), omit paragraph (b) and the “or” before it.

I3832 Social Security Administration Act 1992 (c. 5)

In section 109B of the Social Security Administration Act 1992 M38 (power to require information), in subsection (7)—
a in the definition of “bank”, omit paragraph (b) (but not the final “or”);
b in the definition of “insurer”, omit paragraph (b) and the “or” before it.

I3933 Judicial Pensions and Retirement Act 1993 (c. 8)

1 The Judicial Pensions and Retirement Act 1993 M39 is amended as follows.
2 In section 10 (additional benefits from voluntary contributions)—
a in subsection (8)—
i in the definition of “authorised provider”, omit paragraphs (b) (together with the final “or”) and (c);
ii in the definition of “insurer”, omit paragraph (b);
b omit subsections (8B) to (8E).
3 In Schedule 2 (transfer of accrued benefits), in the definition of “authorised insurer” in paragraph 1(1), omit paragraph (ii) and the “or” before it.

I4034 Social Security (Recovery of Benefits) Act 1997 (c. 27)

In Schedule 1 to the Social Security (Recovery of Benefits) Act 1997 M40 (compensation payments), in paragraph 5, omit sub-paragraph (2)(b) at the “or” before it.

I4135 Bank of England Act 1998 (c. 11)

1 The Bank of England Act 1998 M41 is amended as follows.
2 In section 17 (power to obtain information), in subsection (7), omit paragraph (b) and the “or” before it.
3 In Schedule 2 (cash ratio deposits), in paragraph 1, omit sub-paragraph (1A)(d) and the “or” before it.

I4236 Trustee Act 2000 (c. 29)

In section 29 of the Trustee Act 2000 M42 (remuneration of certain trustees), in subsection (3A), omit paragraph (b) and the “or” before it.

I4337 Anti-terrorism, Crime and Security Act 2001 (c. 24)

In Schedule 1 to the Anti-terrorism, Crime and Security Act 2001 M43 (forfeiture of terrorist property), in paragraph 10R (meaning of “bank”), omit sub-paragraph (2)(c).

I4438 Health and Social Care (Community Health and Standards) Act 2003 (c. 43)

In Schedule 10 to the Health and Social Care (Community Health and Standards) Act 2003 M44 (recovery of NHS charges: exempted payments), in paragraph 4, omit sub-paragraph (b) and the “or” before it.

I4539 Legal Services Act 2007 (c. 29)

In section 64 of the Legal Services Act 2007 M45 (modification of the Board's functions under section 62(1)(b)), in the definition of “authorised insurer” in subsection (5), omit paragraphs (b) and (c).

I4640 Dormant Bank and Building Society Accounts Act 2008 (c. 31)

In section 7 of the Dormant Bank and Building Society Accounts Act 2008 M46 (definition of “bank”)—
a in subsection (2), omit paragraph (b);
b in subsection (3), omit “or firm”, wherever occurring.

I4741 Terrorist Asset-Freezing etc. Act 2010 (c. 38)

In section 41 of the Terrorist Asset-Freezing etc. Act 2010 M47 (meaning of “relevant institution”), in subsection (1), omit paragraph (b) (but not the final “or”).

I4842 Charities Act 2011 (c. 25)

In section 109 of the Charities Act 2011 M48 (dormant bank accounts: supplementary), in subsection (3), omit paragraph (c) (but not the final “or”).

I4943 Health and Social Care Act 2012 (c. 7)

In section 145 of the Health and Social Care Act 2012 M49 (borrowing), in subsection (3), omit paragraph (b) and the “or” before it.

I5044 Welfare Reform and Work Act 2016 (c. 7)

In section 19 of the Welfare Reform and Work Act 2016 M50 (section 18: further provision), in subsection (8)—
a in the definition of “deposit taker”, omit paragraph (b) and the “or” before it;
b in the definition of “insurer”, omit paragraph (b) and the “or” before it.

PART 3 Secondary legislation

I5145 Social Security (Payments on account, Overpayments and Recovery) Regulations 1988

In regulation 10 of the Social Security (Payments on account, Overpayments and Recovery) Regulations 1988 M51 (conversion of payments made in a foreign currency), in paragraph (2), omit sub-paragraph (b) and the “or” before it.

I5246 Social Landlords (Additional Purposes or Objects) Order 1999

In article 3 of the Social Landlords (Additional Purposes or Objects) Order 1999 M52 (priority of mortgages), in the definition of “qualifying lending institution” in paragraph (3) (other than as that definition applies to bodies eligible for registration as social landlords by the Housing Corporation in England), omit paragraph (c) and the “or” before it.

I5347 National Health Service Pension Scheme (Additional Voluntary Contributions) Regulations 2000

In regulation 2 of the National Health Service Pension Scheme (Additional Voluntary Contributions) Regulations 2000 M53 (interpretation), in the definition of “insurer” in paragraph (1), omit paragraph (b) and the “or” before it.

I5448 Pig Industry Restructuring (Capital Grant) Scheme 2001

In paragraph 2 of the Pig Industry Restructuring (Capital Grant) Scheme 2001 M54 (interpretation), in the definition of “bank” in sub-paragraph (1), omit paragraph (ii).

I5549 Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

1 The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M55 is amended as follows.
2 In article 6 (sums paid by certain persons), in paragraph (1), omit sub-paragraph (a)(iii).
3 Omit article 11 (Community co-insurers).
4 In article 39B (claims management on behalf of an insurer etc.), in paragraph (2)—
a omit sub-paragraph (a)(iii) (but not the final “or”);
b omit sub-paragraph (b)(ii) (but not the final “or”);
c in sub-paragraph (b)(iii), omit “and not falling within paragraph (ii)”.

I5650 Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004

In regulation 2 of the Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004 M56 (interpretation), in paragraph (1)—
a in the definition of “relevant contract of insurance”, omit paragraph (b)(ii) and the “or” before it;
b in the definition of “deposit-taker”, omit paragraph (b) and the “or” before it;
c in the definition of “insurer”, omit paragraph (b) and the “or” before it.

I5751 North Korea (United Nations Measures) Order 2006

In article 2 of the North Korea (United Nations Measures) Order 2006 M57 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) and the “and” before it.

I5852 Iran (Financial Sanctions) Order 2007

In article 2 of the Iran (Financial Sanctions) Order 2007 M58 (interpretation), in the definition of “relevant institution” in paragraph (1), omit from “and an EEA firm” to the end.

I5953 Lasting Powers of Attorney, Enduring Powers of Attorney and Public Guardian Regulations 2007

In regulation 34 of the Lasting Powers of Attorney, Enduring Powers of Attorney and Public Guardian Regulations 2007 M59 (security given under regulation 33(2)(a): requirement for endorsement), in paragraph (5)—
a in the definition of “authorised insurance company”, omit paragraph (b);
b in the definition of “authorised deposit-taker”, omit paragraph (b).

I6054 Companies (Authorised Minimum) Regulations 2008

In regulation 4 of the Companies (Authorised Minimum) Regulations 2008 M60 (the appropriate spot rate of exchange), in paragraph (3), omit sub-paragraph (b) and the “or” before it.

I6155 Zimbabwe (Financial Sanctions) Regulations 2009

In regulation 2 of the Zimbabwe (Financial Sanctions) Regulations 2009 M61 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) and the “and” before it.

I6256 Companies (Authorised Minimum) Regulations 2009

In regulation 4 of the Companies (Authorised Minimum) Regulations 2009 M62 (the appropriate spot rate of exchange), in paragraph (3), omit sub-paragraph (b) and the “or” before it.

I6357 Somalia (Asset-Freezing) Regulations 2010

In regulation 2 of the Somalia (Asset-Freezing) Regulations 2010 M63 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I6458 Libya (Financial Sanctions) Order 2011

In article 2 of the Libya (Financial Sanctions) Order 2011 M64 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I6559 Egypt (Asset-Freezing) Regulations 2011

In regulation 2 of the Egypt (Asset-Freezing) Regulations 2011 M65 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I6660 Tunisia (Asset-Freezing) Regulations 2011

In regulation 2 of the Tunisia (Asset-Freezing) Regulations 2011 M66 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I6761 Iran (Asset-Freezing) Regulations 2011

In regulation 2 of the Iran (Asset-Freezing) Regulations 2011 M67 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I6862 Afghanistan (Asset-Freezing) Regulations 2011

In regulation 2 of the Afghanistan (Asset-Freezing) Regulations 2011 M68 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I6963 Legal Services Act 2007 (Designation as a Licensing Authority) Order 2011

In the Schedule to the Legal Services Act 2007 (Designation as a Licensing Authority) Order 2011 M69, in paragraph 2, omit sub-paragraph (4)(a)(iii) (but not the final “and”).

I7064 ISIL (Da'esh) and Al-Qaida (Asset-Freezing) Regulations 2011

In regulation 2 of the ISIL (Da'esh) and Al-Qaida (Asset-Freezing) Regulations 2011 M70 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7165 Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 2011

In article 4 of the Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 2011 M71 (bank accounts of licensed bodies), in paragraph (4), omit sub-paragraph (a)(iii) (but not the final “and”).

I7266 Syria (European Union Financial Sanctions) Regulations 2012

In regulation 2 of the Syria (European Union Financial Sanctions) Regulations 2012 M72 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7367 Guinea-Bissau (Asset-Freezing) Regulations 2012

In regulation 2 of the Guinea-Bissau (Asset-Freezing) Regulations 2012 M73 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7468 Iraq (Asset-Freezing) Regulations 2012

In regulation 2 of the Iraq (Asset-Freezing) Regulations 2012 M74 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7569 Republic of Guinea (Asset-Freezing) Regulations 2012

In regulation 2 of the Republic of Guinea (Asset-Freezing) Regulations 2012 M75 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7670 Democratic Republic of the Congo (Asset-Freezing) Regulations 2012

In regulation 2 of the Democratic Republic of the Congo (Asset-Freezing) Regulations 2012 M76 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7771 Eritrea (Asset-Freezing) Regulations 2012

In regulation 2 of the Eritrea (Asset-Freezing) Regulations 2012 M77 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7872 Lebanon and Syria (Asset-Freezing) Regulations 2012

In regulation 2 of the Lebanon and Syria (Asset-Freezing) Regulations 2012 M78 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I7973 Belarus (Asset-Freezing) Regulations 2013

In regulation 2 of the Belarus (Asset-Freezing) Regulations 2013 M79 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I8074 Council Tax Reduction Schemes (Detection of Fraud and Enforcement) (England) Regulations 2013

In regulation 4 of the Council Tax Reduction Schemes (Detection of Fraud and Enforcement) (England) Regulations 2013 M80 (power to require information), in paragraph (10)—
a in the definition of “bank”, omit paragraph (b) (but not the final “or”);
b in the definition of “insurer”, omit paragraph (e) and the “or” before it.

I8175 Civil Legal Aid (Statutory Charge) Regulations 2013

In regulation 19 of the Civil Legal Aid (Statutory Charge) Regulations 2013 M81 (interest on damages), in paragraph (4)—
a in sub-paragraph (b), omit “either”;
b omit sub-paragraph (b)(ii) (but not the final “and”) and the “or” before it.

I8276 Local Government Pension Scheme Regulations 2013

In Part 3 of Schedule 2 to the Local Government Pension Scheme Regulations 2013 M82 (scheme employers), in paragraph 7, omit sub-paragraph (b) (but not the final “or”).

I8377 Ukraine (European Union Financial Sanctions) Regulations 2014

In regulation 2 of the Ukraine (European Union Financial Sanctions) Regulations 2014 M83 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I8478 Central African Republic (European Union Financial Sanctions) Regulations 2014

In regulation 2 of the Central African Republic (European Union Financial Sanctions) Regulations 2014 M84 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I8579 Ukraine (European Union Financial Sanctions) (No. 2) Regulations 2014

In regulation 2 of the Ukraine (European Union Financial Sanctions) (No. 2) Regulations 2014 M85 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I8680 Prevention of Social Housing Fraud (Power to Require Information) (England) Regulations 2014

In regulation 4 of the Prevention of Social Housing Fraud (Power to Require Information) (England) Regulations 2014 M86 (power to require information), in the definition of “bank” in paragraph (11), omit paragraph (b) (but not the final “or”).

I8781 Sudan (European Union Financial Sanctions) Regulations 2014

In regulation 2 of the Sudan (European Union Financial Sanctions) Regulations 2014 M87 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I8882 Ukraine (European Union Financial Sanctions) (No. 3) Regulations 2014

In regulation 2 of the Ukraine (European Union Financial Sanctions) (No. 3) Regulations 2014 M88 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I8983 Yemen (European Union Financial Sanctions) Regulations 2014

In regulation 2 of the Yemen (European Union Financial Sanctions) Regulations 2014 M89 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9084 South Sudan (European Union Financial Sanctions) (No. 2) Regulations 2015

In regulation 2 of the South Sudan (European Union Financial Sanctions) (No. 2) Regulations 2015 M90 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9185 Burundi (European Union Financial Sanctions) Regulations 2015

In regulation 2 of the Burundi (European Union Financial Sanctions) Regulations 2015 M91 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9286 Iran (European Union Financial Sanctions) Regulations 2016

In regulation 2 of the Iran (European Union Financial Sanctions) Regulations 2016 M92 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9387 Libya (European Union Financial Sanctions) Regulations 2016

In regulation 2 of the Libya (European Union Financial Sanctions) Regulations 2016 M93 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9488 Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016

In regulation 6 of the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 M94 (separate bank account), in paragraph (2), omit sub-paragraph (b).

I9589 Democratic People's Republic of Korea (European Union Financial Sanctions) Regulations 2017

In regulation 2 of the Democratic People's Republic of Korea (European Union Financial Sanctions) Regulations 2017 M95 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9690 Judicial Pensions (Fee-Paid Judges) Regulations 2017

In regulation 70 of the Judicial Pensions (Fee-Paid Judges) Regulations 2017 M96 (interpretation), in the definition of “authorised insurer” in paragraph (1), omit paragraph (b) and the “or” before it.

I9791 Republic of Mali (European Union Financial Sanctions) Regulations 2017

In regulation 2 of the Republic of Mali (European Union Financial Sanctions) Regulations 2017 M97 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9892 Venezuela (European Union Financial Sanctions) Regulations 2017

In regulation 2 of the Venezuela (European Union Financial Sanctions) Regulations 2017 M98 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

I9993  Andrey Lugovoy and Dmitri Kovtun Freezing Order 2020

In article 2 of the Andrey Lugovoy and Dmitri Kovtun Freezing Order 2020 (interpretation), in paragraph (2)—
F28a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b omit sub-paragraph (b) and the “and” before it.

I10094 Burma (European Union Financial Sanctions) Regulations 2018

In regulation 2 of the Burma (European Union Financial Sanctions) Regulations 2018 M99 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

Footnotes

  1. M1
    2018 c. 16.
  2. M2
    2000 c. 8.
  3. M3
    Part 4A is inserted by section 11(2) of the Financial Services Act 2012 (c. 21).
  4. M4
    Section 22 is amended by section 7(1) of the Financial Services Act 2012 (c. 21) and by S.I. 2018/135.
  5. M5
    Section 22A is inserted by section 9 of the Financial Services Act 2012 (c. 21).
  6. M6
    S.I. 2015/575.
  7. M7
    Section 1I is inserted by section 6(1) of the Financial Services Act 2012 (c. 21).
  8. M8
    Part 1A is inserted by section 6(1) of the Financial Services Act 2012 (c. 21).
  9. M9
    2000 c. 8.
  10. M10
    Inserted by section 6(1) of the Financial Services Act 2012 (c. 21).
  11. M11
    Amended by paragraph 27 of Schedule 4 to the Financial Services Act 2012 (c. 21).
  12. M12
    Amended by paragraph 28 of Schedule 4 to the Financial Services Act 2012 (c. 21).
  13. M13
    Inserted by section 11(2) of the Financial Services Act 2012 (c. 21) and amended by S.I. 2018/135.
  14. M14
    Inserted by section 11(2) of the Financial Services Act 2012 (c. 21).
  15. M15
    Inserted by section 11(2) of the Financial Services Act 2012 (c. 21) and amended by S.I. 2017/701.
  16. M16
    Inserted by section 11(2) of the Financial Services Act 2012 (c. 21) and amended by S.I. 2018/135.
  17. M17
    Inserted by section 24(1) of the Financial Services Act 2012 (c. 21).
  18. M18
    Inserted by section 24(1) of the Financial Services Act 2012 (c. 21).
  19. M19
    Amended by paragraph 8(1) and (2) of Schedule 12 to the Financial Services Act 2012 (c. 21) and S.I. 2016/680.
  20. M20
    Inserted by S.I. 2018/546.
  21. M21
    Amended by S.I. 2011/1613.
  22. M22
    Inserted by paragraphs 1 and 3 of Schedule 8 to the Financial Services (Banking Reform) Act 2013 (c. 33).
  23. M23
    Inserted by S.I. 2007/126 and amended by section 36(a) of the Financial Services Act 2012 (c. 21), S.I. 2013/3115 and S.I. 2017/701.
  24. M24
    Amended by paragraphs 1 and 15 of Schedule 14 to the Financial Services Act 2012 (c. 21).
  25. M25
    Amended by S.I. 2003/2066, S.I. 2004/3379, S.I. 2006/2975, S.I. 2007/126, S.I. 2007/3253, S.I. 2012/1906, S.I. 2013/1773, S.I. 2013/3115, S.I. 2015/575 and S.I. 2015/910.
  26. M26
    Inserted by Schedule 3 to the Financial Services Act 2012 (c. 21).
  27. M27
    Inserted by Schedule 3 to the Financial Services Act 2012 (c. 21).
  28. M28
    Inserted by S.I. 2013/555.
  29. M29
    Inserted by S.I. 2013/555.
  30. M30
    1928 c. 43. The definition “Bank” in section 1(7) is substituted by S.I. 2001/3649.
  31. M31
    1974 c. 47. The definition of “bank” in section 1(1) is substituted by S.I. 2001/3649. Section 1(1A) is inserted by S.I. 2001/3649.
  32. M32
    1981 c. 20. Section 33A is inserted by section 82(1) of the Courts and Legal Services Act 1990 (c. 41); the definitions of “authorised provider” and “insurer” in subsection (9) are substituted by S.I. 2001/3649; subsections (9B) to (9E) are inserted by S.I. 2001/3649.
  33. M33
    1985 c. 61. Section 21(5) is substituted by S.I. 2001/3649.
  34. M34
    1985 c. 68. Section 622(1) was so numbered by S.I. 2001/3649; the definitions of “authorised deposit taker” and “authorised insurer” are inserted by S.I. 2001/3649; the definition “authorised mortgage lender” is inserted by section 307(2) of the Housing and Regeneration Act 2008 (c. 17).
  35. M35
    1986 c. 53. Section 9A is inserted by section 10 of the Building Societies Act 1997 (c. 32); subsection (5)(a) and (b) are substituted by S.I. 2001/3649. Section 98(3)(c)(i) and (ii) are substituted by S.I. 2001/3649.
  36. M36
    1988 c. 28. The definition of “insurer” in section 2(1) is substituted by S.I. 2001/3649.
  37. M37
    1988 c. 52. Section 95(3) is substituted by S.I. 2001/3649.
  38. M38
    1992 c. 5. Section 109B is inserted by paragraph 2 of Schedule 6 to the Child Support, Pensions and Social Security Act 2000 (c. 19); subsection (7) is inserted by section 1(4) of the Social Security Fraud Act 2001 (c. 11); the definition of “bank” and “insurer” in subsection (7) are respectively substituted and inserted by S.I. 2002/817.
  39. M39
    1993 c. 8. The definitions of “authorised provider” and “insurer” in section 10(8) are respectively substituted and inserted by S.I. 2001/3649; subsections (8B) to (8E) are inserted by S.I. 2001/3649. Paragraph 1(1) is numbered as such, and the definition of “authorised insurer” in inserted by, S.I. 2001/3649
  40. M40
    1997 c. 27. Paragraph 5(2) of Schedule 1 is inserted by S.I. 2001/3649.
  41. M41
    1998 c. 11. Section 17(7) is inserted by S.I. 2001/3649. Paragraph 1(1A) of Schedule 2 is inserted by S.I. 2001/3649.
  42. M42
    2000 c. 29. Section 29(3A) is inserted by inserted by paragraph 90(1) and (3) of Schedule 18 to the Financial Services Act 2012 (c. 21).
  43. M43
    2001 c. 24. Paragraph 10R is inserted by paragraphs 1 and 2 of Schedule 4 to the Criminal Finances Act 2017 (c. 22).
  44. M44
    2003 c. 43.
  45. M45
    2007 c. 29.
  46. M46
    2008 c. 31.
  47. M47
    2010 c. 38.
  48. M48
    2011 c. 25.
  49. M49
    2012 c. 7.
  50. M50
    2016 c. 7.
  51. M51
    S.I. 1988/664; amended by S.I. 2001/3649 and S.I. 2003/492.
  52. M52
    S.I. 1999/985; amended by S.I. 2001/3649; the definition is further amended in relation to bodies eligible for registration as social landlords by the Housing Corporation in England, although those amendments are not relevant to this instrument.
  53. M53
    S.I. 2000/619; amended by S.I. 2001/3649.
  54. M54
    S.I. 2001/251; amended by S.I. 2001/3649.
  55. M55
    S.I. 2001/544; amended by S.I. 2003/1476, S.I. 2007/3254 and S.I. 2013/472.
  56. M56
    S.I. 2004/2738.
  57. M57
    S.I. 2006/2958.
  58. M58
    S.I. 2007/281.
  59. M59
    S.I. 2007/1253.
  60. M60
    S.I. 2008/729.
  61. M61
    S.I. 2009/847.
  62. M62
    S.I. 2009/2425.
  63. M63
    S.I. 2010/2956.
  64. M64
    S.I. 2011/548.
  65. M65
    S.I. 2011/887.
  66. M66
    S.I. 2011/888.
  67. M67
    S.I. 2011/1129.
  68. M68
    S.I. 2011/1893.
  69. M69
    S.I. 2011/2038.
  70. M70
    S.I. 2011/2742.
  71. M71
    S.I. 2011/2866.
  72. M72
    S.I. 2012/129.
  73. M73
    S.I. 2012/1301.
  74. M74
    S.I. 2012/1489.
  75. M75
    S.I. 2012/1508.
  76. M76
    S.I. 2012/1511.
  77. M77
    S.I. 2012/1515.
  78. M78
    S.I. 2012/1517.
  79. M79
    S.I. 2013/164.
  80. M80
    S.I. 2013/501.
  81. M81
    S.I. 2013/503.
  82. M82
    S.I. 2013/2356.
  83. M83
    S.I. 2014/507.
  84. M84
    S.I. 2014/587.
  85. M85
    S.I. 2014/693.
  86. M86
    S.I 2014/899.
  87. M87
    S.I. 2014/1826.
  88. M88
    S.I. 2014/2054.
  89. M89
    S.I. 2014/3349.
  90. M90
    S.I. 2015/1361.
  91. M91
    S.I. 2015/1740.
  92. M92
    S.I. 2016/36.
  93. M93
    S.I. 2016/45.
  94. M94
    S.I. 2016/946.
  95. M95
    S.I. 2017/218.
  96. M96
    S.I. 2017/522.
  97. M97
    S.I. 2017/972.
  98. M98
    S.I. 2017/1094.
  99. M99
    S.I. 2018/539.
  100. F1
    Pt. 6 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 2
  101. F2
    Pt. 7 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 3
  102. F3
    Pt. 8 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 4
  103. F4
    Pt. 9 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 7(1)
  104. F5
    Regs. 70, 71 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 5(1)
  105. F6
    Reg. 72 inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 6
  106. F7
    Words in reg. 1 substituted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 5(2)
  107. F8
    Words in reg. 27 heading inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 7(2)
  108. F9
    Reg. 1(5) inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(2)
  109. F10
    Word in reg. 10(a) omitted (16.3.2019) by virtue of The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(3)(a)
  110. F11
    Reg. 10(c) and preceding word inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(3)(b)
  111. F12
    Word in reg. 13(a) omitted (16.3.2019) by virtue of The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(4)(a)
  112. F13
    Reg. 13(c) and preceding word inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(4)(b)
  113. F14
    Reg. 30(1)(aa) inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(5)
  114. F15
    Word in reg. 35(1)(a) omitted (16.3.2019) by virtue of The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(6)(a)
  115. F16
    Reg. 35(1)(c) and preceding word inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(6)(b)
  116. F17
    Word in reg. 48 inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(7)
  117. F18
    Reg. 49(aa) inserted (16.3.2019) by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(2), 11(8)
  118. F19
    Words in reg. 30(1)(a)(ii) inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(2)(a)
  119. F20
    Reg. 30(3) inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(2)(b)
  120. F21
    Words in reg. 36(1)(a)(ii) inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(3)(a)
  121. F22
    Reg. 36(3) inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(3)(b)
  122. F23
    Words in reg. 46 inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(4)
  123. F24
    Words in reg. 49(a)(ii) inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(5)(a)
  124. F25
    Reg. 49(3) inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(5)(b)
  125. F26
    Words in reg. 68 inserted (6.9.2019) by The Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/1212), regs. 1(2), 6(6)
  126. F27
    Words in Sch. para. 93 substituted (19.1.2020) by The Andrey Lugovoy and Dmitri Kovtun Freezing Order 2020 (S.I. 2020/36), arts. 1, 13(2)(a)
  127. F28
    Sch. para. 93(a) omitted (19.1.2020) by virtue of The Andrey Lugovoy and Dmitri Kovtun Freezing Order 2020 (S.I. 2020/36), arts. 1, 13(2)(b)
  128. F29
    Words in Sch. para. 93 heading substituted (19.1.2020) by The Andrey Lugovoy and Dmitri Kovtun Freezing Order 2020 (S.I. 2020/36), arts. 1, 13(3)
  129. F30
    Words in reg. 10 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(e)
  130. F31
    Words in reg. 11 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(f)
  131. F32
    Words in reg. 13 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(g)
  132. F33
    Words in reg. 14 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(h)
  133. F34
    Words in reg. 14 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(h)
  134. F35
    Words in reg. 15 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(i)
  135. F36
    Words in reg. 17 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(j)
  136. F37
    Words in reg. 18 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(k)
  137. F38
    Words in reg. 19 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(l)
  138. F39
    Words in reg. 21 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(m)
  139. F40
    Words in reg. 22 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(n)
  140. F41
    Words in reg. 23 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(o)
  141. F42
    Words in reg. 25 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(p)
  142. F43
    Words in reg. 26 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(q)
  143. F44
    Words in reg. 26 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(q)
  144. F45
    Words in reg. 30 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(r)
  145. F46
    Words in reg. 30 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(r)
  146. F47
    Words in reg. 33 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(s)
  147. F48
    Words in reg. 34 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(t)
  148. F49
    Words in reg. 36 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(u)
  149. F50
    Words in reg. 36 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(u)
  150. F51
    Words in reg. 40 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(v)
  151. F52
    Words in reg. 45 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(w)
  152. F53
    Words in reg. 46 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(x)
  153. F54
    Words in reg. 49 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(y)
  154. F55
    Words in reg. 49 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(y)
  155. F56
    Words in reg. 5 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(a)
  156. F57
    Words in reg. 52 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(z)
  157. F58
    Words in reg. 6 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(b)
  158. F59
    Words in reg. 68 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(aa)
  159. F60
    Words in reg. 7 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(c)
  160. F61
    Words in reg. 7 heading substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(c)
  161. F62
    Words in reg. 8 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2)(d)
  162. F63
    Words in reg. 24(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 2(a)(i)
  163. F64
    Words in reg. 24(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 2(a)(ii)
  164. F65
    Words in reg. 70(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 2
  165. F66
    Words in reg. 70(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 2(b)(i)
  166. F67
    Words in reg. 70(2)(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 2(b)(ii)
  167. C1
    Reg. 8 applied (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 36(1)(3) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
  168. C2
    Reg. 11 applied (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 36(1)(3) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
  169. C3
    Reg. 28 applied (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 36(1)(3) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
  170. C4
    Reg. 34 applied (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 36(1)(3) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
  171. C5
    Reg. 47 applied (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 36(2)(3) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
  172. I1
    Reg. 2 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)
  173. I2
    Reg. 4 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)
  174. I3
    Reg. 24 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)
  175. I4
    Reg. 70 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)
  176. I5
    Reg. 71 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)
  177. I6
    Reg. 3 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)
  178. F68
    Reg. 54A inserted (31.12.2020) by The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 3 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 44(a)); 2020 c. 1, Sch. 5 para. 1(1)
  179. F69
    Reg. 58(a) substituted (31.1.2020) by The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 4(a); 2020 c. 1, Sch. 5 para. 1(1)
  180. F70
    Word in reg. 58(b) omitted (31.1.2020) by virtue of The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 4(b); 2020 c. 1, Sch. 5 para. 1(1)
  181. F71
    Word in reg. 70(2)(b) inserted (31.1.2020) by The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 5(a); 2020 c. 1, Sch. 5 para. 1(1)
  182. F72
    Words in reg. 70(2)(b) omitted (31.1.2020) by virtue of The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 5(a); 2020 c. 1, Sch. 5 para. 1(1)
  183. F73
    Words in reg. 70(2)(b) omitted (31.1.2020) by virtue of The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 5(b); 2020 c. 1, Sch. 5 para. 1(1)
  184. F74
    Reg. 71(1)(b)(c) omitted (31.1.2020) by virtue of The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 6(a); 2020 c. 1, Sch. 5 para. 1(1)
  185. F75
    Words in reg. 71(2) omitted (31.1.2020) by virtue of The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 2) Regulations 2019 (S.I. 2019/1010), regs. 1(3), 6(b); 2020 c. 1, Sch. 5 para. 1(1)
  186. I7
    Sch. para. 1 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)
  187. I8
    Sch. para. 2 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)
  188. I9
    Sch. para. 3 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)
  189. I10
    Sch. para. 4 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)
  190. I11
    Sch. para. 5 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)
  191. I12
    Sch. para. 6 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)
  192. I13
    Sch. para. 7 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)
  193. I14
    Sch. para. 8 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)
  194. I15
    Sch. para. 9 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)
  195. I16
    Sch. para. 10 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)
  196. I17
    Sch. para. 11 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)
  197. I18
    Sch. para. 12 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)
  198. I19
    Sch. para. 13 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)
  199. I20
    Sch. para. 14 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)
  200. I21
    Sch. para. 15 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)
  201. I22
    Sch. para. 16 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)
  202. I23
    Sch. para. 17 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)
  203. I24
    Sch. para. 18 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)
  204. I25
    Sch. para. 19 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)
  205. I26
    Sch. para. 20 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)
  206. I27
    Sch. para. 21 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)
  207. I28
    Sch. para. 22 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)
  208. I29
    Sch. para. 23 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)
  209. I30
    Sch. para. 24 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)
  210. I31
    Sch. para. 25 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)
  211. I32
    Sch. para. 26 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)
  212. I33
    Sch. para. 27 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)
  213. I34
    Sch. para. 28 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)
  214. I35
    Sch. para. 29 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)
  215. I36
    Sch. para. 30 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)
  216. I37
    Sch. para. 31in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
  217. I38
    Sch. para. 32 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)
  218. I39
    Sch. para. 33 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)
  219. I40
    Sch. para. 34 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)
  220. I41
    Sch. para. 35 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)
  221. I42
    Sch. para. 36 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)
  222. I43
    Sch. para. 37 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)
  223. I44
    Sch. para. 38 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)
  224. I45
    Sch. para. 39 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)
  225. I46
    Sch. para. 40 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)
  226. I47
    Sch. para. 41 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)
  227. I48
    Sch. para. 42 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)
  228. I49
    Sch. para. 43 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)
  229. I50
    Sch. para. 44 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)
  230. I51
    Sch. para. 45 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)
  231. I52
    Sch. para. 46 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)
  232. I53
    Sch. para. 47 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)
  233. I54
    Sch. para. 48 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)
  234. I55
    Sch. para. 49 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)
  235. I56
    Sch. para. 50 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)
  236. I57
    Sch. para. 51 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)
  237. I58
    Sch. para. 52 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)
  238. I59
    Sch. para. 53 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)
  239. I60
    Sch. para. 54 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)
  240. I61
    Sch. para. 55 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)
  241. I62
    Sch. para. 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)
  242. I63
    Sch. para. 57 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)
  243. I64
    Sch. para. 58 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)
  244. I65
    Sch. para. 59 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)
  245. I66
    Sch. para. 60 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)
  246. I67
    Sch. para. 61 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)
  247. I68
    Sch. para. 62 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)
  248. I69
    Sch. para. 63 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)
  249. I70
    Sch. para. 64 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)
  250. I71
    Sch. para. 65 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)
  251. I72
    Sch. para. 66 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)
  252. I73
    Sch. para. 67 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)
  253. I74
    Sch. para. 68 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)
  254. I75
    Sch. para. 69 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)
  255. I76
    Sch. para. 70 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)
  256. I77
    Sch. para. 71 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)
  257. I78
    Sch. para. 72 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)
  258. I79
    Sch. para. 73 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)
  259. I80
    Sch. para. 74 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)
  260. I81
    Sch. para. 75 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)
  261. I82
    Sch. para. 76 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)
  262. I83
    Sch. para. 77 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)
  263. I84
    Sch. para. 78 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)
  264. I85
    Sch. para. 79 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)
  265. I86
    Sch. para. 80 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)
  266. I87
    Sch. para. 81 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)
  267. I88
    Sch. para. 82 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)
  268. I89
    Sch. para. 83 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)
  269. I90
    Sch. para. 84 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)
  270. I91
    Sch. para. 85 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)
  271. I92
    Sch. para. 86 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)
  272. I93
    Sch. para. 87 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)
  273. I94
    Sch. para. 88 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)
  274. I95
    Sch. para. 89 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)
  275. I96
    Sch. para. 90 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)
  276. I97
    Sch. para. 91 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)
  277. I98
    Sch. para. 92 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)
  278. I99
    Sch. para. 93 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)
  279. I100
    Sch. para. 94 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)
  280. C6
    Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)
  281. F76
    Word in reg. 24(2)(b) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 14(a)(i)
  282. F77
    Words in reg. 24(2)(b) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 14(a)(ii)
  283. F78
    Words in reg. 24(2)(b) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 14(b)(i)
  284. F79
    Words in reg. 24(2)(b) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 14(b)(ii)
  285. F80
    Reg. 59(3) omitted (22.11.2024 for specified purposes, 6.4.2026 in so far as not already in force) by virtue of The Consumer Composite Investments (Designated Activities) Regulations 2024 (S.I. 2024/1198), reg. 2(1)(c)(2), Sch. 2 para. 7; S.I. 2025/1078, reg. 7(b)