(1) A UK firm which has exercised an EEA right deriving from the insurance distribution directive to establish a branch or provide services must not make any material change to the relevant details (as defined in regulation 17D) unless the requirements of paragraph (2) have been complied with.
(2) The requirements are that -
(a) the UK firm 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 UK firm gave the notice has elapsed.
(3) The appropriate UK regulator must, as soon as reasonably practicable, and in any event within a period of one month beginning with the day on which the notice under paragraph (2)(a) was received, inform the host state regulator of the proposed change.