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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 November 2007 - onwards
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12. Establishment of branches outside the State.

Repealed from 1 November 2007

(1) When an authorised investment business firm wishes to establish a branch in another Member State it shall notify in writing the supervisory authority setting out the address of the proposed branch from which documents may be obtained, the names of the proposed managers and a programme of operations setting out inter alia the types of business envisaged and the proposed organisational structure of the branch.

(2) Subject to subsection (3) of this section, the supervisory authority acting as a competent authority may communicate information referred to in subsection (1) of this section to the relevant competent authority in that other Member State in accordance with the provisions of Council Directive 93/22/EEC of 10 May, 1993 [O.J. No. L.141 11/6/93.], within three months of receiving all information requested of the authorised investment business firm, and shall inform the authorised investment business firm accordingly.

(3) If the supervisory authority acting as a competent a

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