Statutory Instruments
2005 No. 1
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Gibraltar) (Amendment) Order 2005
Made
6th January 2005
Laid before Parliament
6th January 2005
Coming into force
14th January 2005
The Treasury, in exercise of the powers conferred upon them by section 409(1) of the Financial Services and Markets Act 2000( 1 ), hereby make the following Order:
Citation and commencement
1. This Order may be cited as the Financial Services and Markets Act 2000 (Gibraltar) (Amendment) Order 2005, and comes into force on 14th January 2005.
Amendment of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001
2. —(1)Article 2 of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001( 2 ) is amended as follows.
(2) After paragraph (3) insert—
“ (3A) A Gibraltar-based firm falling within paragraph 5(e) of Schedule 3 ( 3 ) is to be treated as having an entitlement, corresponding to its EEA right deriving from the insurance mediation directive, to establish a branch or provide services in the United Kingdom. ” .
(3) In paragraph (4)—
(a) for “(2) and (3)” substitute “(2), (3) and (3A)”; and
(b) for “5(b) and (d)” substitute “5(b), (d) and (e)”.
(4) In paragraphs (5) and (7) for “(2) or (3)”, wherever occurring, substitute “(2), (3) or (3A)”.
Derek Twigg
John Heppell
Two of the Lords Commissioners of Her Majesty’s Treasury
6th January 2005