In section 191G [Section 191G was substituted by S.I. 2009/534.] (interpretation), in subsection (1) -

(a) omit the definition of "credit institution" [The definition of "credit institution" in section 191G(1) was amended by S.I. 2013/3115.];

(b) in the definition of "UK authorised person", in paragraph (b), after "Schedule 5" insert ", or a person treated as having a Part 4A permission to carry on a regulated activity by virtue of regulation 71 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019" [S.I. 2019/325.],

(c) in the appropriate place, insert -

“qualifying credit institution” includes a credit institution which is authorised under the law of Gibraltar relied on immediately before IP completion day to implement the capital requirements directive.”