[Part 4 Variation of Permission]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[Part 4 Variation of Permission]

[Variation of permission

21

(1)     A Schedule 2A permission may be varied in accordance with this Part of this Schedule—

(a)     on the initiative of the Gibraltar regulator (see paragraphs 22 to 26), or

(b)     on the initiative of a UK regulator (see paragraphs 27 to 30).

(2)     References in this Part of this Schedule to the variation of a Schedule 2A permission (however expressed) are to its variation by—

(a)     adding an approved activity to those to which the permission relates,

(b)     removing an approved activity from those to which the permission relates, or

(c)     varying the description of an activity to which the permission relates (including by adding, removing or varying a limitation).

(3)     Where a limitation is added, removed or varied under this Part of this Schedule, paragraph 13(2)(b) has effect as if it referred to the limitations (if any) that have effect after that change.

Gibraltar regulator's initiative: notification

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(1)     If the appropriate UK regulator receives a notification from the Gibraltar regulator requesting the variation of a Gibraltar-based person's Schedule 2A permission (see paragraph 24), the permission is varied—

(a)     if the notification

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