(1) A mortgage intermediary which has exercised an EEA right deriving from the mortgages directive to establish a branch or provide services must not make any material change to the requisite details of the branch or to the services to be carried on in exercise of that EEA right unless the requirements of paragraph (2) have been complied with.
(2) The requirements are that -
(a) the mortgage intermediary has given a notice to the appropriate UK regulator stating the details of the proposed change, and
(b) the period of one month beginning with the day on which the mortgage intermediary gave the notice has elapsed.
(3) The appropriate UK regulator must, as soon as reasonably practicable after receiving a notice under paragraph (2), inform the host state regulator of the proposed change.
(4) Paragraph (1) does not apply to a change occasioned by circumstances beyond the mortgage intermediary’s control.