(1) An EEA firm which is exercising an EEA right in the United Kingdom deriving from the insurance distribution directive must not make a material change to any of the matters referred to in regulation 2(9) or regulation 3(4) as the case may be unless the relevant requirements have been complied with.
(2) Where the relevant requirements have been complied with, the insurance intermediary’s permission is to be treated as varied accordingly.
(3) For the purposes of this regulation, the "relevant requirements" are those in paragraph (4).
(4) The requirements of this paragraph are that -
(a) the firm has given a notice to its home state regulator stating the details of the proposed change; and
(b) the period of one month beginning with the day on which the firm gave notice has elapsed.