The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018
| Jurisdiction | UK Non-devolved |
(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 F106, 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 .(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.(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) .Part 2 (exercise of passport rights by EEA firms) ;Part 3 (exercise of passport rights by UK firms) .(6) Omit Schedule 4 (Treaty rights) .in Part 1, to the 2000 Act; in Parts 2 and 3, to other enactments. the provision made by these Regulations is to be treated as not having been made, and 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. before F155IP 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;on and after F155IP completion day, in respect of a person to whom regulation 8 or 11 applies.is made by the person on or after the day on which this regulation comes into force, oris 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, andthe application is in respect of carrying on a regulated activity, on or after F155IP completion day, that the person is authorised to carry on by virtue of section 31(1) (b) or (c) of that Act.(1) Part 4A of the 2000 Act 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 ” ;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—
- “(8) Where a person makes an application to vary the permission that the person is treated as having by virtue of regulation 8 of the 2018 Regulations, the FCA may, if it considers it appropriate to do so, treat the application as an application for permission under section 55A.
- “(9) Where a person makes an application to vary the permission that the person is treated as having by virtue of regulation 8 of the 2018 Regulations, the PRA may, if it considers it appropriate to do so, treat the application as an application for permission under section 55A.
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