(1) An authorisation granted to an investment firm -
(a) shall specify the investment services or activities which the firm is authorised to provide,
(b) may cover one or more ancillary services but may not cover only the provision of ancillary services, and
(c) may -
(i) extend to the provision of any investment business services, or
(ii) cover any investment instruments,
as defined in the Investment Intermediaries Act 1995.
(2) An investment firm seeking authorisation to extend its business to additional investment services or ancillary services for which the firm is not authorised shall apply to the Bank for the appropriate extension of the firm's authorisation and the Bank may grant the extension if the Bank considers it appropriate in the circumstances.
(3) An authorisation granted to an investment firm under this Part, together with any extension under paragraph (2) -
(a) is valid for the entire European Union, and
(b) allows an investment firm or a branch established by it to pr
…