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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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Schedule 3, Part III Exercise of Passport Rights by UK Firms (paras. 18A-29)

Omitted from 31 December 2020

Sections 31(1)(b) and 37.

Meaning of "the appropriate UK regulator"

18A. In this Part of this Schedule "the appropriate UK regulator" means -

(a) where the UK firm is a PRA-authorised person, the PRA;

(b) in any other case, the FCA.

Establishment

19.

(1) Subject to sub-paragraphs (5ZA), (5ZB), (5A) and (7BC) a UK firm may not exercise an EEA right to establish a branch unless three conditions are satisfied.

(2) The first is that the firm has given the appropriate UK regulator, in the specified way, notice of its intention to establish a branch ("a notice of intention") which -

(a) identifies the activities which it seeks to carry on through the branch; and

(b) includes such other information as may be specified.

(3) Subject to sub-paragraph (5B), the activities identified in a notice of intention may include activities which are not regulated activities.

(4) The second is that -

(a) the appropriate UK regulator has given notice in specified terms ("a consent notice") to the host s

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