Statutory Instruments
2006 No. 1805
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Gibraltar) (Amendment) Order 2006
Made
6th July 2006
Laid before Parliament
7th July 2006
Coming into force
31st July 2006
The Treasury make the following Order in exercise of the powers conferred on them by section 409(1) of the Financial Services and Markets Act 2000( 1 ):
Citation and commencement
1. This Order may be cited as the Financial Services and Markets Act 2000 (Gibraltar) (Amendment) Order 2006, and comes into force on 31st July 2006.
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 (1) insert—
“ (1A) A Gibraltar-based firm falling within paragraph 5(a) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the investment services directive, to establish a branch or provide services in the United Kingdom. ” .
(3) In paragraph (2) omit “so far as relating (only) to activities falling within items 1 to 6 in Annex 1 to that directive”.
(4) In paragraph (4)—
(a) before “(2), (3) and (3A)” insert “(1A),”; and
(b) for “5(b),” substitute “5(a), (b),”.
(5) In paragraphs (5) and (7) before “(2), (3) or (3A)”, wherever occurring, insert “(1A),”.
Alan Campbell
Dave Watts
Two of the Lords Commissioners of Her Majesty’s Treasury
6th July 2006