(1) The Financial Services and Markets Act 2000 (Gibraltar) Order 2001 [S.I. 2001/3084, amended by S.I. 2005/1, 2006/1805 and 3221, 2007/2932 and 3254, 2012/2017 and 2013/472 and 3115.] is amended as follows.
(2) In article 1(2) (interpretation) for the definition of "Gibraltar-based firm" substitute -
""Gibraltar-based firm" means -
(a) an AIFM (as defined in Article 4.1(b) of the alternative investment fund managers directive [S.I. 2013/1773 inserted a definition of "alternative investment fund managers directive" at section 425 of, and paragraph 4E of Schedule 3 to, the Financial Services and Market s Act 2000.]) which is authorised in Gibraltar in accordance with the alternative investment fund managers directive; or
(b) a firm not falling within paragraph (a) which has its head office in Gibraltar;".
(3) In article 2 (exercise of deemed passport rights by Gibraltar-based firms) -
(a) after paragraph (3C) insert -
"(3D) A Gibraltar-based firm falling within paragraph 5(h) of Schedu
…