Schedule 4 Amendments of Schedule 3 to the Act

Regulation 3(4)

1. Schedule 3 to the Act (EEA passport rights) is amended as follows.

2. In paragraph 1(d) for "investment services directive" substitute "markets in financial instruments directive".

3. Paragraph 4 is repealed.

4. In paragraph 5(a) -

(a) for "Article 1.2 of the investment services directive" substitute "Article 4.1.1 of the markets in financial instruments directive";

(b) for "Article 3" substitute "Article 5".

5. After paragraph 10A [Paragraph 10A was inserted by S.I. 2003/1473.] insert -

"UK investment firm

10B. "UK investment firm" means a UK firm -

(a) which is an investment firm, and

(b) whose EEA right derives from the markets in financial instruments directive.".

6. After paragraph 11 insert -

"Tied agent

11A. "Tied agent" has the meaning given in Article 4.1.25 of the markets in financial instruments directive.".

7. In paragraph 12, after sub-paragraph (2), insert -

"(3) If an EEA firm falling within paragraph 5(a) is seeking to use a tied agent establishe