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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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199. Additional procedure for EEA firms in certain cases

Omitted from 31 December 2020

(1) This section applies if it appears to a regulator that its power of intervention is exercisable in relation to an EEA firm exercising EEA rights in the United Kingdom ("an incoming EEA firm") in respect of the contravention of a relevant requirement.

(2) A requirement is relevant if -

(a) it is imposed -

(i) by that regulator under this Act, or

(ii) under any directly applicable Community regulation or decision made under a single market directive; and

(b) as respects its contravention, the single market directive in question provides that a procedure of the kind set out in the following provisions of this section (so far as they are relevant in the firm’s case) is to apply.

(3) The regulator must, in writing, require the firm to remedy the situation.

(3A) If the firm falls within paragraph 5(da), (f) or (h) of Schedule 3, the regulator must at the same time as it gives notice to the firm under subsection (3) refer its findings to the firm’s home state regulator.

(3B) Subs

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