Exercise of market access rights by Gibraltar-based firms
(1) These Regulations apply as set out in sub-paragraphs (2) and (3) in relation to a firm which -
(a) has its head office in Gibraltar; and
(b) is authorised in Gibraltar to issue electronic money and provide payment services in accordance with Gibraltar legislation which implemented the electronic money directive.
(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 electronic money 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-para
…