Exercise of market access rights by Gibraltar-based firms
(1) These Regulations apply in relation to a firm which -
(a) has its head office in Gibraltar; and
(b) is authorised in Gibraltar to provide payment services;
as follows.
(1A) Such a firm is referred to in the following provisions of this Schedule as a Gibraltar-based firm.
(2) A Gibraltar-based firm is to be treated as having an entitlement, corresponding to the passport right deriving from the payment services directive that such a firm had immediately before IP completion day, to establish a branch or provide services in the United Kingdom.
(2A) Despite their amendment or revocation by the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, the provisions of these Regulations listed in sub-paragraph (2B) continue to apply, as they had effect immediately before IP completion day, for the purposes of this paragraph.
(2B) The provisions ref
…